The payment industry is staging a "rush for orders"? It is rumored that Visa (V.US) is spending 100 million US dollars to compete for a credit card partnership with Apple Inc. (AAPL.US).

According to informed sources, the global payment giant Visa (VISA.US) has offered Apple Inc. (AAPL.US) a sky-high fee of about 100 million dollars in an attempt to snatch the exclusive partnership rights for Apple Inc.'s credit card from its old rival Mastercard (MA.US). This move marks Visa's bold action in the fight for the Apple Card payment network, providing upfront payments typically reserved only for the largest credit card projects. Industry analysts believe that this is equivalent to Visa prepaying potential revenue for the next few years to Apple Inc., showing Visa's determination to secure the Apple Card. When asked by the media, Visa refused to comment on the matter. In fact, Visa is not the only one eyeing this prize. American Express Company (AXP.US) is reportedly working on becoming both an issuer and a payment network; Barclays PLC Sponsored ADR (BCS.US) and Synchrony Financial (SYF.US) along with other established card issuers are also actively in talks; even JPMorgan Chase (JPM.US) has been in frequent contact with Apple Inc. since last year. This battle for payment gateways has turned into a "arena" for financial giants. Looking back at 2019, Goldman Sachs Group, Inc. made a significant investment to become the initial partner for Apple Card, forming a "iron triangle" with Mastercard. However, things took a turn as this Wall Street giant suddenly announced at the end of last year that it would scale back its consumer finance business, setting aside billions of dollars for potential losses. With Goldman Sachs Group, Inc. shifting its strategy, the issuance rights for Apple Inc.'s credit card naturally became a coveted "piece of cake" for various parties. Behind the battle is the strategic value of mobile payment gateways. Owning the Apple Card means gaining access to payment data from Apple Inc.'s hundreds of millions of users, which holds immeasurable value for Financial Institutions, Inc. in digital finance and precision marketing strategies. What is more crucial is the high spending power of Apple Inc. users, making this virtual credit card the highest quality payment scenario. Currently, Apple Inc. has not disclosed its final partner. It can be predicted that regardless of who ultimately wins, this payment war will profoundly change the competitive landscape of the credit card industry. After all, in the marriage between tech giants and financial giants, payment gateways are becoming more valuable strategic resources than actual money.