The card will be paired with Apple Wallet, which already allows users to store credit and debit cards. The credit card will allow Apple to take a larger cut from transactions than it does from third-party cards, and will reportedly be issued in the spring. (Wall Street Journal)

Talking point: The plan is a natural extension for Apple’s payments ecosystem, which already offers Apple Pay and Apple Wallet. Apple Pay had an estimated 250 million users last year, though the company has faced competition from market leaders like AliPay, which claims 450 million users globally. In comparison, new iPhone sales were down 20 per cent in 2018 compared to the year before, so moving into the payments space is a move to fill that gap in revenue. For Goldman Sachs, it’s a chance to make up for revenues lost amid a decline in securities trading. The firm has been particularly interested in tech over the past few months. In November 2018, Goldman Sachs launched its digital-only Marcus Bank. Canadian customers likely won’t be getting their hands on the card anytime soon; the country didn’t get Apple Pay until 2015, a year after its U.S. launch.