JPMorgan negotiates with Apple an alliance with Goldman Sachs as a partner for its credit cards

As the tech giant’s credit card partner, JPMorgan Chase is in negotiations with Apple to replace Goldman Sachs, a source familiar with the situation said on Tuesday.

The source, who wished to remain anonymous due to the confidentiality of the discussions, stated that although discussions started earlier this year and have progressed in recent weeks, a possible agreement may still take months.

According to reports, Goldman and Apple ended their collaboration last year, which covered savings accounts and credit cards.

According to individuals who spoke with Reuters in December of last year, Goldman faces an expensive exit from the collaboration because other lenders view it as too dangerous and unprofitable.