Apple Inc. is teaming up with The Goldman Sachs Group Inc. to release a credit card as early as the beginning of 2019, the Wall Street Journal reported this morning.

The publication’s sources said the firms are still hammering out the details. However, there’s already some information about what benefits the card could offer. The tipsters claim that Goldman Sachs will provide in-store loans to consumers shopping for Apple products.

The leak affirms an earlier report from February that claimed the firms were in talks to provide new financing options for shoppers. Apple already runs a lending program that enables iPhone owners to take out an interest-free loan when upgrading their devices. The company has also been offering an Apple Rewards card via Barclays plc that, according to the Journal, is set to be replaced in the wake of the new partnership with Goldman Sachs.

Making it easier for consumers to buy iPhones could potentially help boost the adoption of future top-end models. As the lukewarm demand for Apple’s $1,000 iPhone X has demonstrated, the current financing options offered by the company and its carrier partners aren’t enough for many consumers.

The iPhone maker might also be looking to use the Goldman Sachs partnership a way to boost the adoption of its mobile payment services. Their upcoming card will reportedly share branding with Apple Pay, which enables iOS users to pay in stores using their mobile devices. Apple also introduced the ability for users to send money to one another late last year.

The iPhone maker isn’t the only tech giant that is starting to become more active in the financial services world. According to a Journal report published in March, Amazon.com Inc. is negotiating with a number of leading banks about building a digital checking account for online shoppers. The service will reportedly be geared mainly toward younger consumers and people without bank accounts.

Image: Pixabay