Visa may squeeze Mastercard out of Apple Card partnership

It looks like there’s a new race for influence in the world of payment systems: Visa is looking to take over Apple Card from Mastercard. According to The Wall Street Journal, the company has offered Apple $100 million to become the card’s new payment partner. This could be not just a change of network provider, but the start of a major overhaul of the entire Apple Card ecosystem.

Apple is looking for a new financial partner

With the relationship between Apple and issuing bank Goldman Sachs gradually fraying, rumors of a switch to another payment network seem to make sense. Goldman has already announced its intention to withdraw from consumer lending and end its partnership with Apple ahead of schedule – despite a contract that runs through 2030.

Apple is actively looking for a new issuer and is reportedly in talks with Barclays, Synchrony Financial and Chase. Before doing so, however, the company wants to first decide on a new payment network, according to the WSJ, which is what explains the interest in Visa’s proposal.

Apple is actively looking for a new issuer and is reportedly in talks with Barclays, Synchrony Financial and Chase.

What’s different between payment networks and issuing banks

Visa and Mastercard are the payment networks that provide the security and infrastructure for transactions. They are the ones who process millions of payments «behind the scenes». Issuing banks such as Goldman Sachs manage the user side: they set rates, determine the terms of bonuses and cashback, and provide access to support and limits.

So the network change is a technical step, but the issuer change could seriously alter the user experience of Apple Cardholders.

What this means for Apple Card holders

If Apple does switch from Mastercard to Visa, users will feel virtually no difference – both networks are accepted worldwide and offer comparable levels of reliability.

But if Apple changes its payment network and issuing bank, cardholders may be in for a better experience. The Apple Card is currently the No. 1 card in customer satisfaction according to J.D. Power, but it lacks the attractive welcome bonus, purchase protection programs and enhanced benefits offered by competitors.

Switching to another partner could be a chance for Apple to make the card more competitive -especially as «Buy Now, Pay Later» solutions grow in popularity and competition among banks intensifies.

American Express wouldn’t mind participating as well

The Apple Card has also been rumored to be of interest American Express, which is both a payment network and an issuer. This could be a particularly convenient model for Apple – one partner for everything from transactions to customer service.

In the meantime, there have been no official statements from Apple, Visa or the other candidates yet.

So far, there’s been no official announcement from Apple, Visa or the other candidates.

Should cardholders be worried?”

If you already have an Apple Card (which is unlikely, as Apple cards have not launched in Russia, and Visa and MasterCard are not operating in the country as of 2025) – there’s nothing to worry about. All current terms will remain in place until the end of the contract with Goldman Sachs, and even if the partners change, all changes will be gradual. Moreover, possible updates can only make the card better – with more bonuses, privileges and support for new services.

If you’re looking for a card with maximum value and don’t want to wait until negotiations are complete, it’s worth considering other offers – especially those with big sign-up bonuses and expanded loyalty programs.