The Wall Street Journal:

The Wall Street firm is in talks to offer financing to shoppers buying phones, watches and other gadgets from Apple, people familiar with the matter said. Customers purchasing a $1,000 iPhone X could take out a loan from Goldman instead of charging it to credit cards that often carry high interest rates.

Goldman charges 12% interest on its average Marcus instant payday loans. Credit cards can charge upward of 20% and carry late fees and other charges.

Partnerships with big retailers like Apple are key. They can deliver millions of customers that Goldman would struggle to find on its own.

As Ben Bajarin said on Twitter, “The Bank of Apple is coming.”