Moscow, February 22 — “Lead. Economy” the Apple and the American investment Bank Goldman Sachs plan to jointly issue a credit card. About this newspaper The Wall Street Journal, citing sources.

Apple and Goldman Sachs Group are planning this spring to release a joint credit card, which will provide users with new iPhone features to manage finances, writes Thursday in The Wall Street Journal, citing informed sources.

Employees of companies begin to test the new card in the next few weeks, and officially it will be presented later this year. The company hopes to attract cardholders by offering them additional capabilities in the Apple Wallet, which will allow them to set spending targets, monitor income and manage the account balance.

The new card will use the payment system Mastercard Inc. second in popularity in the U.S. after Visa. For most purchases will be cash back at a rate of about 2%, said sources. According to them, the cashback may be more significant when you pay with Apple services and purchase its devices.

Both Apple and Goldman Sachs, looking for new sources of revenue as growth in its key operations stalled, writes the WSJ.

So, Apple is actively developing its services amid cooling demand for smartphones. Revenues from iPhone sales declined by 15% compared with a year earlier, while quarterly revenue was $84.3 billion, which is 5% less compared to a year earlier. Apple predicted that in the first quarter of 2019 financial year ending in December, sales will total $89 billion to $93 billion This estimate was below the forecasts of analysts. In January 2019 Apple lowered the revenue estimate to $84 billion due to weak iPhone sales in China.

The company’s sales declined in Europe ($20.4 billion instead of $21 billion a year earlier), Japan ($7.2 billion to $6.9 billion), but most of all in China. During the reporting period, the revenue of Apple in the market of China fell by nearly 27% from $17.9 billion to $13.1 billion In the same period a year earlier, the company has sold in China of goods and services by $18 billion

However, analysts are looking to the service Apple business. Last finkvartal the yield from services for the first time in history reached $10.9 billion, a 19% increase from a year earlier. Other categories of products (Macs, Wearables and home devices, and accessories) increased by 9% and 33%, respectively, and the yield from iPad sales rose 17%.

The company expects to increase revenue from services, including streaming services, TV and mobile payments, up to $50 billion by 2020.

Meanwhile, Goldman Sachs, faced with reduced revenues from trading, launched a consumer online banking Marcus in 2016.

Credit card, which the Bank plans to launch in partnership with Apple, will be his first. The budget allocated for this project is $200 million, the sources said.

Apple shares losing 0.6 percent at auction on Thursday, the value of securities Goldman Sachs declined 0.8%.

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