Goldman hopes to lure iBorrowers with Apple card launch

Goldman Sachs Group Inc’s credit card is expected to appear in Apple Inc stores as soon as this week, introducing another major touchpoint with affluent, tech-savvy consumers the Wall Street bank hopes to lure.

Goldman’s foray into retail banking began in 2015 and has accelerated under Chief Executive David Solomon, who took the helm last year. Because Goldman does not have branches, it has been trying to get attention for products offered by its consumer bank, Marcus, through promotions and partnerships.

Called Apple Card, the card will use the MasterCard payment network. While consumers will receive a physical card, Apple and Goldman hope users will store payment information in the iPhone wallet app and make purchases without needing to carry the card.