Report: Apple to end partnership with bank that backs Apple Card, savings accounts::Goldman Sachs has lost billions of dollars on its consumer-focused businesses.
Report: Apple to end partnership with bank that backs Apple Card, savings accounts::Goldman Sachs has lost billions of dollars on its consumer-focused businesses.
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Didn’t know they were so generous with the terms. But I meant the fees they charge merchants. At least that’s how the business usually works if I’m not mistaken. Biggest cut of the merchant fee goes to the issuer bank, a smidge to the payment network, and a smalish portion to the merchant bank. Apple usually takes a portion of the issuer bank’s cut (in this case GS)
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Of course what could have happened is that that cut was way bigger then the usual Apple Pay deal.