.jpg){kind=avatar}
It is part of a broader effort to wire everyday gadgets to the web to encourage consumer purchases and gather data. This technology has been slow to take hold—not everyone needs a refrigerator that says when the milk is running low—but it taps into a broader trend of consumer spending becoming more seamless and digital. The coronavirus pandemic could add to the appeal by increasing demand for e-commerce and contactless pickup.
A deal with GM would advance Goldman’s ambitions on Main Street. Since launching its consumer arm, Marcus, four years ago, the firm has amassed $7 billion in loans and is aiming for $20 billion by 2025. Holders of the Apple Card had $2.3 billion in outstanding balances as of June 30. Without a well-known consumer brand or physical branches to bring in customers, Goldman is turning to partnerships, hoping to turn iPhone users, GM drivers, Amazon shoppers and AARP members into Marcus customers.
unknownx500
