M 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,

KEY TAKEAWAYS Visa has reportedly offered Apple around $100 million in a bid to replace Mastercard as the provider of the Cupertino-based tech firm's payments network.According to The Wall Street Journal,

Visa, Mastercard, and American Express are having a tug-of-war over whose network will get to provide the back-end plumbing for the Apple Card. That’s not exciting, I know, but here’s the kicker: Wall Street Journal published that Visa reportedly offered Apple a staggering $100 million to abandon Mastercard and join its ranks.