Apple is in talks with JPMorgan Chase that the bank is acquiring the tech giant’s main credit card program Goldman Sachsaccording to a person with knowledge of the negotiations.

The talks are still in the early stages and key elements of a deal — such as price and whether JPMorgan would continue certain Apple Card features — have yet to be determined, said the person, who spoke on condition of anonymity to discuss the nature of the potential deal. The talks could collapse in the coming months over these or other issues, the person said.

But the move shows how limited Apple’s choices were when Goldman Sachs decided to pivot from its ill-fated retail banking strategy. There are only a few card issuers in the U.S. with the scale and willingness to take on the Apple Card program, which has saddled Goldman with losses and regulatory scrutiny.

According to the Nilson Report, an industry newsletter, JPMorgan is the nation’s largest credit card issuer by purchase volume.

The bank is trying to pay less than face value for the roughly $17 billion in loans on the Apple Card because of high losses on the cards, the person familiar with the matter said. Sources close to Goldman said the higher-than-average defaults and delinquencies on the Apple Card portfolio were largely because users had new accounts. Those losses should diminish over time.

However, questions about credit quality have made the portfolio less attractive to issuers, amid concerns the U.S. economy is headed for a slowdown.

JPMorgan also wants to eliminate a key Apple Card feature known as calendar-based billing, which means all customers get a statement at the beginning of the month instead of spread out over time, the person familiar with the matter said. The feature is attractive to customers but means service representatives are inundated with calls at the same time every month.

Apple and JPMorgan declined to comment on the negotiations, which were previously reported by The Wall Street Journal.