Global payments company Visa has offered Apple a deal worth $ 100 million to become the sole exclusive payment partner of Apple Card. This move is part of a fierce competition between leading financial companies seeking to gain control over the servicing of this popular payment card.

According to the Wall Street Journal, interest in Apple Card has increased significantly after Goldman Sachs announced its withdrawal from the consumer lending segment. This opens up opportunities for large banks such as JPMorgan Chase and Synchrony Financial, which are now actively competing for the right to become the new issuer of the card.

However, the fight is not only between banks, but also between global payment systems. Visa and American Express are trying to displace Mastercard, which has been servicing Apple Card in partnership with Goldman Sachs since 2019. Visa’s exclusive partnership proposal could change that balance and have a significant impact on the mobile payments market.

The move comes as Goldman Sachs is reassessing its strategy. The bank initially sought to expand its consumer finance business, but in late 2022, the company decided to exit the business due to significant costs and potential losses. This has created a vacuum that major financial players are now trying to fill.

Apple is considering several options for future partnerships. The company is in active talks with Barclays and Synchrony Financial, and has been discussing a potential partnership with JPMorgan Chase since last year.

This situation demonstrates how attractive the market for Apple’s digital payments and credit products is. The Visa deal could be a game-changer in the mobile payments sector, affecting not only competitors but also millions of Apple Card users around the world.