Apple Card is about to change forever: will it now come to Europe?

After more than five years of roaming around the United States without much change, the Apple Card is facing a potential revolution. The tech giant’s credit card has proven to be an interesting option for consumers living in the land of the free, but it seems not having a good time. Not because of Apple or the users, but because of the bank that supports its credit nature.

Since 2019, Apple has trusted Goldman Sachs to issue the Apple Card and manage the product in the U.S., though the relationship could deteriorate due to millionaire’s losses that the card would result in Goldman’s accounts showing up. In fact, that situation would prompt the Cupertino company open up new opportunities for negotiations.

Why will Apple Card change? Well, as we read in CNBC, JPMorgan Chase and Apple to Talk so that its consumer subsidiary could purchase a credit card with an apple printed on it.

What does this mean? Apple Card will no longer be responsible for Goldman Sachs and It will be managed by JPMorgan Chase. And if you don’t know much about the structure of the US banking organization, don’t worry: Just know that JPMorgan is the largest issuer of credit cards — by volume of expenditure — throughout the country.

This is one of those banks that are considered “whales”. one of the few who has the ability and a willingness to welcome a product the size of the Apple Card. Of course, that doesn’t mean it will accept Apple’s terms first: JPMorgan would keep quiet about it, according to the source cited. The credit quality of Apple products is not the bestwhich may cause different conditions for change.

What Will Change About Apple Card If JPMorgan Enters the Game?

Well, one of the first modifications that Apple Card may undergo is related to payment termGoldman Sachs currently issues invoices and statements at the beginning of the month, and JPMorgan would like to change that. Its idea is to implement staged payments on different dates months.

The reason, of course, is to avoid customer service department collapsewhich will spread calls out over the entire month rather than split them into several days. It’s a minor change that doesn’t really impact users much and could speed up the deal for the JPMorgan Chase-managed Apple Card.

On the way to Europe

While Americans may not care much about these changes—their Apple Card will continue to work the same, with some minor differences— We Europeans might start salivating with the possibility of JPMorgan taking over the credit card business.

Last year, JPMorgan CEO Jamie Dimon himself confirmed to a German newspaper via Reuters that his bank Chase will expand to Germany and other EU countries. So it’s reasonable to assume that if they start managing Apple Card, Their landing on European soil is a much closer reality.

On this issue, yes, there is no official word, so we recommend not getting your hopes up too much. Apple and JPMorgan have declined to make statements about a possible Apple Card deal, so if they are true, the moves will be gradual.

Despite this, that Apple Card Coming to Europe officially it now seems a little more viable.