Goldman Sachs Group Inc. will issue Apple Inc.'s new co-brand credit card, according to a personfamiliar with the matter, as the investment bank deepens its pushinto consumer finance.

Goldman Sachs's arrangement with Apple would replace thetechnology giant's previous deal with Barclays Plc, the personsaid, asking not to be identified discussing internal plans. Thetwo companies are still formulating the product, the personsaid.

Goldman Sachs is planning a deeper foray into the world ofco-brand credit cards, a space that's become increasinglycompetitive as banks ratchet up rewards to win business withretailers. The firm has been expanding into consumer financethrough its new Marcus unit, an effort led by Harit Talwar, theformer head of Discover Financial Services' U.S. card business.

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