Apple is reportedly in talks with Barclays to replace Goldman Sachs as its credit card issuer.
Credit card issuer Synchrony Financial is also in the mix as a potential partner for Apple, according to anonymous sources cited by Reuters.
Goldman has been looking to offload the Apple card portfolio for over a year as part of its retreat from the consumer markets, an ill-fated venture which has saddled the investment bank with huge losses from its investments.
In October, The Consumer Financial Protection Bureau slapped an $89 million penalty on Apple and Goldman Sachs for illegally mishandling credit card transaction disputes and misleading iPhone purchasers about interest-free payment options.
Earlier sale reports suggested that JPMorgan had expressed an interest in the business but was uncertain over the valuation placed on the loan book owing to higher-than-average delinquencies and defaults on the portfolio.
Barclays has past form, snapping up the General Motors card business from Goldman Sachs in October last year as part of a strategy to grow its business with America's top brands.