The service marks the first time that the company is using an in-house payment platform and conducting lending itself. Apple created a business called Apple Financing LLC that will handle applications, lending and credit approvals. Still, Apple Card partner Goldman Sachs Group Inc. is the issuing bank, and the payment network provider is MasterCard Inc. The Apple Pay Later documentation shows that transaction histories are stored with its financing subsidiary, Goldman Sachs and MasterCard — but not with Apple itself, for privacy reasons.