The future of Mastercard’s partnership with Apple is under pressure as Apple weighs its options for a new payment network provider for the Apple Card. With Goldman Sachs preparing to exit its role as the card issuer, Apple now faces major decisions that could reshape the card’s entire infrastructure.
Visa and Amex Enter the Scene
While Goldman Sachs had planned to part ways with Apple Card by late 2024 or early 2025, attention has now shifted to which network will power the card going forward. Mastercard currently holds that role, but not without competition.
According to The Wall Street Journal, Visa has reportedly offered Apple a $100 million incentive to become the new network provider. Visa usually reserves such high-value deals for major clients like Costco, signaling the importance of this potential partnership.
American Express is also showing interest. While its CEO had once appeared hesitant about an Apple Card partnership, sources now say Amex may want to be both the issuer and the network—something that could be more appealing to Apple if packaged together.
Timing and Contract Constraints
Despite the interest from rivals, Mastercard may still hold on for a while. Its contract with Apple reportedly runs until 2026. Even if Apple selects a new issuer before then, changing the payment network would require renegotiation or a wait until the agreement ends.
The handover of card operations will likely take time. Transitions of this scale require months of planning and system integration. However, pressure from Goldman Sachs to move on may accelerate Apple’s decision-making process.
What Comes Next?
So far, Apple has not made any official announcements. The company is likely weighing both financial and strategic factors as it considers whether to stick with Mastercard or make a switch.
With Visa and Amex offering strong deals, the Apple Card could soon be operating under a completely new financial setup. For Apple Card users, this shift may bring updated benefits, new rewards, or changes in service—depending on which network wins the race.
