JPMorgan Chase & Co. has begun internally testing a new credit-card product as part of plans to expand its offerings to UK consumers, according to people familiar with the matter.

Goldman Sachs and JPMorgan will need to agree on terms and conditions of the card transfer, as the two financial firms will need to agree on a transaction price for the existing card balances. Other negotiations include the consumer rewards program for the Apple Card.

JPMorgan Chase is in negotiations to take over Apple’s credit card venture from Goldman Sachs after the tech frim made a push to cut its ties with the New York bank last year

Reports say the New York banks are in triangulated talks with Apple to shift management of Apple Card accounts--and their $17 billion in outstanding high-risk consumer debt.

These include questions on whether JPMorgan would retain existing features of the Apple Card, and the price. The move of Apple came after Goldman Sachs veered away from its retail-banking strategy, thereby resulting in limited options left for the iPhone maker.

JPMorgan Chase and Apple are in advanced talks for the bank to take over the tech giant’s credit card program from Goldman Sachs. While the deal