Apple-Goldman Credit Card 'Nothing Unusual,' Ellis Says

Apple and Goldman Sachs are collaborating on a new credit card, marking a significant step for Apple in the payments sector. This partnership is unusual as Synchrony is typically the bank of choice for co-branded cards. The move is part of Apple's strategy to increase the use of its payment services. Goldman Sachs is investing heavily in this venture, focusing on building risk management and consumer support systems. The partnership could impact competitors like PayPal, but the overall effect on the financial ecosystem remains to be seen.

In what ways might the new credit card impact the competitive landscape of payment services?

What are the expected investments and infrastructure challenges Goldman Sachs might face with this new credit card?