Goldman Sachs partnered with tech giant Apple to launch its first credit card earlier this year.
For Apple, this constituted a logical extension to its Apple Pay mobile-payments platform, with customers able to apply via their phones, and start using a virtual card from their handset while waiting for the “laser-etched titanium” physical version to arrive.
For Goldman Sachs it marked another consumer-facing step following the launch of Marcus, its three-year-old online consumer investment group that specializes in loans, savings accounts and liquid certificates of deposits (CDs), which let investors make withdrawals without a penalty. Since 2016, it has raised...