1/15, 5:58 PM (Source: TeleTrader)
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Goldman, GM, Mastercard form CC partnership

Goldman Sachs Group Inc. will become the issuing bank for General Motors Co.'s credit card programs, the companies announced on Friday.

The change will come into effect in September this year, while Mastercard Inc. will remain the network for the cards.

"We chose to partner with Goldman Sachs because of their proven ability to innovate. The foundation of this partnership, including our continued work with Mastercard, is our shared values - to put the customer at the center and deliver exceptional experiences," GM executive Chuck Thomson said in the press release.

Breaking the News / MD