Apple is reportedly weighing a switch from Mastercard to Visa for its Apple Card, as Goldman Sachs prepares to exit consumer lending.
Apple may switch from Mastercard to Visa
Visa has offered Apple $100 million
Changes may affect rewards, security and benefits
Apple is reportedly considering a major change to its credit card operations. The tech giant is in talks to replace Mastercard with Visa as the network behind the Apple Card. Visa has offered Apple a $100 million deal to take over as the network provider.
The Apple Card, currently issued by Goldman Sachs and supported by Mastercard, is integrated into the iPhone’s Wallet app. It is made by Apple, designed for simplicity, security and easy rewards. With every purchase, users earn Daily Cash and can track spending right inside the app. However, this structure may shift significantly as Apple seeks both a new banking partner and a new network provider.
Will users even notice a change? Probably not much—at least not at first. Visa and Mastercard are both widely accepted, so most day-to-day purchases would remain unaffected. Key features like colourful spending charts and Daily Cash rewards are managed by Apple itself, not the payment network, so those elements would likely stay the same. Integration with Apple Pay would also continue without disruption.
Over time, however, changes could begin to surface. Visa might offer Apple new types of merchant partnerships or reward categories, potentially leading to more ways to earn Daily Cash, though this has not been confirmed. The network could also bring in its own set of fraud protection tools or travel-related benefits. Features such as rental car insurance or extended warranties—typically available with certain Visa cards—might also be added, depending on what Apple chooses to include.
Why is this happening now?
The possible switch is part of a larger shake-up behind the Apple Card. Goldman Sachs, the bank that currently issues the card, is stepping away from consumer lending. As a result, Apple is now looking for both a new network and a new bank to support the Apple Card.
Visa saw this as a significant opportunity and reportedly made a $100 million offer to take over from Mastercard. But it's not just about the money—Visa is also aiming to become a key player in Apple’s rapidly expanding financial ecosystem.
There could be benefits for cardholders if Visa takes over. These may include an increase in 3% Daily Cash partners, with more stores or services potentially offering the highest reward rate. Visa’s travel and purchase protections might also be added to the Apple Card’s features. For enhanced security, Visa could introduce additional fraud alerts or smarter transaction monitoring tools. And if Visa pushes promotional campaigns, users may gain new ways to save money.
Apple Card network shift: Mastercard vs. Visa
|
Feature/Aspect |
Current (Mastercard) |
Proposed (Visa) |
|
Network Provider |
Mastercard |
Visa (offered $100 million to Apple) |
|
Issuer |
Goldman Sachs |
Unknown (Goldman exiting consumer business) |
|
Acceptance |
Widely accepted |
Widely accepted |
|
Daily Cash Rewards |
Yes – up to 3% |
Yes – possible new partners and boosts |
|
Travel Perks |
Limited |
Potential Visa travel benefits |
|
Fraud Protection |
Mastercard security tools |
Visa may add advanced fraud alerts |
|
Rental Car Insurance |
Not included |
Possibly included under Visa |
|
Extended Warranties |
Not typical |
Might be added with Visa |
|
Apple Wallet Integration |
Full integration |
Will remain unchanged |
|
User Experience |
Color-coded charts, instant cash |
No change – Apple controls UX |
Credit cards don't usually make headlines but when Apple is involved things get interesting. A switch from MasterCard to Visa might seem minor but it's a part of a bigger story about how Apple is carving out its place in the world of payments and finance.