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A deal would further tie together America’s biggest bank and one of the largest technology companies in the world. JPMorgan already offers Chase customers deals on Apple products and pays the company whenever one of its millions of card customers uses Apple Pay. Landing the deal would grow Chase’s card business— already the biggest in the country—while bringing along a loyal base of Apple customers to whom it can pitch more financial products.
“The banking system is not static,” Dimon wrote in his letter to shareholders earlier this year. “There are startup banks, mergers, successful upstarts and fintech banks, and even Apple, which effectively acts as a bank.” (Apple works with many banks on Apple Pay and other financial services that it offers to consumers.)
