Visa (NYSE:V) has offered Apple (AAPL) ~$100M to switch its popular co-branded credit card to its payment network from Mastercard's (NYSE:MA), according to a media report.

American Express (NYSE:AXP) is also seeking to add the card to its payment network, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

There's already been reporting that JPMorgan Chase (JPM) and Synchrony Financial (SYF) have been competing to replace Goldman Sachs (GS) as the bank issuing the Apple Card. The competition among banks was expected as Goldman (GS), known mostly as a Wall Street lender, pulls back from its foray into consumer finance.

Apple (AAPL), however, is expected to choose a network for its card before it selects the bank to replace Goldman (GS), the WSJ said.

Visa (NYSE:V) is aggressively pitching the Apple (AAPL), making an offer similar to the upfront payment it offered when Costco selected a network for its card about 10 years ago. Mastercard (NYSE:MA), though, is fighting to keep its role as the card's network, the same people told the WSJ.

American Express (NYSE:AXP) has been seeking the roles of both network provider and the card issuer, the people said. Goldman Sachs (GS) approached AmEx in 2023 to gauge its interest in taking over as card issuer, the WSJ had reported.

Visa (V) stock rose 0.1%, American Express (AXP) was roughly flat, and Mastercard (MA) stock edged up 0.1% in Tuesday after-hours trading. Apple (AAPL) stock crept up 0.1%.