[gutnor]

Isnt' that GS entry in the consumer side of banking though? Apple and GS are very much new player in the credit card world, so any kind of disruption would be interesting.

The reason it does not happen is probably that Apple is not in the business of creating a new market for GS. And on the other hand GS does not have the culture to lead such a disruption.

My bet is that both are using each other as stepping stone. GS will likely enter the consumer banking at some point thanks to what amount to Apple R&D investment. Apple on the other hand will use the experience and roll their own limited set of service in their own time too. Apple probably aim at competing with the like of Paypal and Square.