Somewhat hidden in the hoopla around the launch of the new Apple Card this month is the arguably most important fact that, with its launch, Goldman Sachs is in fact becoming a credit card issuer for the first time. It was only three years ago that the Wall Street titan moved into consumer lending in any form, a milestone achieved through the launch of its online-only bank, Marcus. By CNN's count, Marcus "has lent $4.75 billion out in personal loans...and 13 percent of those loans have gone to customers with FICO scores below 660". This aggressive customer-building strategy appears to be being carried forward into the Apple Card partnership,... Read more >
US consumer credit delinquency grows | Venmo boosts instant payments | NatWest trials voice banking | TransferWise launches in Australia and New Zealand
Mastercard buys Nets' RTP | Heidelpay to KKR | Klarna soars while GreenSky dips | Apple Card launches | European bankers chafe at ECB rate
BofA exits First Data JV | Citi at crossroads | Mastercard soars | European banks' 2Q | Indian cashless MSCs
Competition in US real-time payments | Deutsche Bank losses | Nationwide hikes overdaft charges | RuPay launch to boost credit cards in India?
Consumer banking drives profits | Big Tech in payments | WhatsApp ready to join India's crowded payments market? | Challenger banks in Australia
Revolving credit reaches YTD high in US | Volcker Rule 2.0 | Britain eyes future of payments | Australia bank capital buffers | Push mobile payments in Japan
POS-financing draws global schemes | Spanish banks prepare domestic card | Australian Open Banking era begins
Regulators scrutinise Libra white paper | Bank of England mulls liquidity for fintechs | Citi trims perks on credit cards
Facebook details crypto plans | Discover goes fee-free | 'Bad bank' might liberate Deutsche
Amazon/Synchrony subprime card | UK tackles overdrafts | Australians savvy with payments | European air miles an e-currency?
UnionPay readies for European issuance | postal banking on US political agenda | P2P regs tighten in UK
Merger of Global Payments and TSYS | US charge-offs rise continues | All eyes on Singapore for regional banking throne