JPMorgan Chase and Apple on Wednesday announced a deal under which the bank will become the new issuer of the Apple Card, replacing Goldman Sachs , further expanding the biggest U.S. bank's credit card franchise.

JPMorgan Chase has reached a deal to take over the Apple credit card from Goldman Sachs, according to a source.

Mastercard Inc. will remain the payment-network partner for the credit card, the Cupertino, California-based maker of iPhones and computers said in its statement.

JPMorgan Chase struck a deal to acquire the Apple credit-card program from Goldman Sachs , according to a media report on Wednesday, a transaction that would further

JPMorgan Chase will become the new issuer of Apple’s credit card, absorbing about $20 billion in balances The deal ends Goldman Sachs’ troubled pus