Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
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Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#2Full text link: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&c...
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#3I was thinking about this. Square, you are F*d!
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#4If it's "person to person", then why do the banks need to be involved? If they are involved, then it's more like "bank to bank", isn't it?
> It also represents the latest attempt by banks and other providers to shift Americans away from cash and checks.
The good news is that the police can't steal the cash on you anymore. The bad news is now all of your purchases will be tracked all the time.
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#5With all the available options why would you want to use a service that requires you to figure out if the other person uses an iPhone?
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#6If it's "person to person", then why do the banks need to be involved? If they are involved, then it's more like "bank to bank", isn't it? > It also represents the latest attempt by banks and other providers to shift Americans away from cash and checks. The good news is that the police can't steal the cash on you anymore. The bad news is now all of your purchases will be tracked all the time.
Because access to the source and target accounts still needs to be coordinated, and the appropriate withdrawal/deposit handled. Although it is interesting to consider, we are not yet at the point where our devices hold "actual" money.
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#7Last bit of the title is "...Payment Service Like Venmo"
Seems to be the latest push by Apple to integrate Apple Pay into some sort of payments ecosystem by force.
Should be interesting to see if there is any compelling reason to use Apple's solution over Venmo which has a huge incumbency advantage at this point.
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#8With all the available options why would you want to use a service that requires you to figure out if the other person uses an iPhone?
Who said it would be iPhone-only?
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#9"Service would be rival to PayPal’s Venmo platform"
It's interesting that this is the subtitle. That is not the first service I would have compared the idea to.
Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service
#10Last bit of the title is "...Payment Service Like Venmo" Seems to be the latest push by Apple to integrate Apple Pay into some sort of payments ecosystem by force. Should be interesting to see if there is any compelling reason to use Apple's solution over Venmo which has a huge incumbency advantage at this point.
> huge incumbency
I've never heard of Venmo, nor have any of my tech friends.