"This is a natural next step for Goldman," said Ian Kar, author of the newsletter. "The installment product turns Marcus into a payment method, helps it become more top-of-mind for users, and break into the everyday lives of their customers."
The partnership was in development months before the coronavirus pandemic put a halt to most air travel. Since few people are booking travel for trips happening soon, MarcusPay appears as a payment option for vacation packages that happen in the fall of this year, according to a person with knowledge of the situation. A JetBlue spokeswoman confirmed it was the inaugural partner for the Goldman product.
Other partnerships will follow, as Goldman has made it clear that embedding its services with large corporations is a key part of its strategy. "During this time our number one priority is the health and safety of our customers," said Abhinav Anand, head of consumer loans for Marcus. The new service will enable JetBlue customers to "buy what matters to them, when it matters, and to pay for it in equal payments with no fees or upfront payment."
The bank wants to double the consumer deposits it holds to $125 billion over the next five years and generate $700 million to $900 million in pretax income excluding reserves in the division.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banks brace for new wave of small businesses at troubled loan programBanks are warning that a beleaguered $350 billion small business rescue program could become even more backed up Friday when the nation's self-employed business owners will be eligible to apply for the government-backed loans Can't apply anyway because all the banks and credit unions I've contacted aren't accepting ANY further PPP applications right now because they're overwhelmed. Additionally the 3 day EIDL grant -- heard nothing & it's a week later. Get in debt
Source: politico - 🏆 381. / 59 Read more »
'Hot mess': Small businesses besieged by problems getting coronavirus loansHalf of small businesses could shutter in two months and another third in three to six months, according to the National Federation of Independent Businesses. anyone have an SBA number yet? And all for a flu bug that 99.99% will live thru. Tragic.
Source: ABC - 🏆 471. / 51 Read more »
Goldman lists stocks for if the worst is over, and stocks for if it's notNew for subscribers: Goldman lists stocks for if the worst is over, and stocks for if it's not Check out CNBCPro and get your first 7 days free. Pro Why waste your money on stocks right now ? there are far less risky investments to make. trump and other dumbasses think the the stock market is the economy. Pro The stock market is whistling through the graveyard. Pro Lol
Source: CNBC - 🏆 12. / 72 Read more »
Forgivable Loans For Small Businesses Offer Small Toehold For RetailThe Paycheck Protection Program is just the start for retailers buffeted by extended closures during the pandemic.
Source: wwd - 🏆 24. / 68 Read more »
Iran presses for IMF loan; some business to stay shut despite easingPresident Hassan Rouhani pressed harder on Wednesday for a $5 billion emergency IMF loan Iran has sought to fight the Middle East's worst coronavirus outbreak, saying the Fund would be guilty of discrimination if it withholds the money. IMF loan to accelerate their nuclear weapons program ... IMF Don’t sponsor Terrorism Right
Source: Reuters - 🏆 2. / 97 Read more »
Fed Expands Corporate-Debt Backstops, Unveils New Programs to Aid States, Cities and Small BusinessesThe Federal Reserve’s efforts include a lending facility to support state and city finances. The facility will purchase short-term notes directly from states, large U.S. counties and cities. I can not believe these morons who ran the economy to the ground are still in charge and still printing astronomical amount of dollars to inflate everything from rent, education to healthcare! The money will be provided by the taxpayers! It’s getting uglier every day
Source: WSJ - 🏆 98. / 63 Read more »