Apple Card will now be issued by JPMorgan, but users won’t see any changes. The card, known for intuitive features, will continue offering 3% cash back and high-yield savings. JPMorgan takes over from Goldman Sachs, solidifying its dominance in the credit card sector with over $1.344 trillion in purchase volume.

The handover brings together companies shaping how people pay for goods. Apple says the transition will not impact users. Mastercard will still serve as the payment network for Apple Card, ensuring global acceptance and benefits remain. JPMorgan estimates the move will bring in over $20 billion in card balances to the Chase platform.

Apple reassures cardholders that they can continue using their cards as normal. The deal with JPMorgan is set to close in about 2 years. The transition aims to seamlessly integrate the card into the Chase platform while maintaining the same benefits for users. Apple promises to share more details with cardholders as the transition progresses.

Read more at Yahoo Finance: Apple Card switches hands but no immediate changes for users