Goldman Sachs and Apple Plan to Offer a New Credit Card - The New York Times

Also see What the Goldman Sachs-Apple Pay credit card would mean for mobile payments (Tearsheet)

"Apple executives have said they aim for Apple Pay to eventually replace cash and plastic as the primary way to pay. But Apple’s payment service has a long way to go. One of the people familiar with the discussions between Apple and Goldman said that taking Apple Pay into the physical world would help expand its reach. With an Apple Pay credit card, loyal iPhone users could use Apple Pay even in places that don’t yet accept digital payments, the person said.

The research firm Loup Ventures estimated last year that just 13 percent of active iPhones had activated the service. And Apple Pay isn’t even the most popular mobile-payment service. It faces stiff global competition from Samsung Pay and Google’s Android Pay, as well as Alibaba’s Alipay and Tencent’s WeChat Pay in China."

Goldman Sachs and Apple Plan to Offer a New Credit Card - The New York Times