Goldman's Apple Card Leads to Big Win for Tiny Georgia Firm

The bank picks CoreCard, which is smaller compared with rivals
CEO hinted at signing large client on November earnings call

Lisa Ellis, MoffettNathanson analyst, discusses Apple planning to make a credit card with Goldman Sachs.Markets: The Close." (Source: Bloomberg)

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By Anders Melin, Sridhar Natarajan, and Jennifer Surane

March 11, 2019 at 2:15 PM UTC

Updated on

March 11, 2019 at 9:17 PM UTC

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Goldman Sachs Group Inc. has picked a little-known technology firm to help handle payments for its planned credit-card partnership with Apple Inc.

The bank struck a deal last year to license payments-processing software from CoreCard Software, owned by Intelligent Systems Corp., to help with its foray into the consumer-card business, according to a person with knowledge of the matter, who asked not to be identified because the information is private.