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Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

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11–20 of 203 posts

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#11
post #8
post #5

With 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?

Everything Apple has ever done historically (with mobile) has been iOS-only, what possible reason would there be to suspect this would be any different?

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#12
Yes! I was just thinking: One hundred person-to-person payment services aren't enough... we need 101!

Seriously though, Apple has a terrible time creating online services (http://www.zdnet.com/article/apple-and-the-cloud-a-magnifice...) and there is no way another entry in the "Proprietary, heavily policed, middle-man-encumbered social payment tool" is going to go anywhere.

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#13
post #10

Last 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.

You probably don't live in the bay area.

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#14

Last 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.

> 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.

insert chuckle here

Perhaps because Apple has incredible resources compared to Venmo, no one over 30 uses Venmo, and because Apple can easily integrate with the ACH system to enable these transfers.

If Apple were so inclined, they go so far as to have a banking subsidiary that was a stakeholder in the ACH system, thereby allowing them to shape the protocol currently being worked on to allow real time ACH transfers.

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#15
post #11
post #8

Earlier quoted context omitted.

Who said it would be iPhone-only?

Everything Apple has ever done historically (with mobile) has been iOS-only, what possible reason would there be to suspect this would be any different?

And given the number of Android devices in the wild far, far surpasses the number of iOS devices... using this service seems like more of a hassle than not.

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#16
post #11
post #8

Earlier quoted context omitted.

Who said it would be iPhone-only?

Everything Apple has ever done historically (with mobile) has been iOS-only, what possible reason would there be to suspect this would be any different?

Perhaps Apple Music (launched on Android today) is a sign of changing times?

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#18
post #11
post #8

Earlier quoted context omitted.

Who said it would be iPhone-only?

Everything Apple has ever done historically (with mobile) has been iOS-only, what possible reason would there be to suspect this would be any different?

Not mobile but iTunes made it to Windows and now Apple Music is available on Android. It wouldn't be a first.

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#19
post #11
post #8

Earlier quoted context omitted.

Who said it would be iPhone-only?

Everything Apple has ever done historically (with mobile) has been iOS-only, what possible reason would there be to suspect this would be any different?

Apple Music just launched on Android.

Re: Apple in Talks with US Banks to Develop Mobile Person-To-Person Payment Service

#20
post #5

With 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?

Well, do bear in mind that the iPhone is pretty popular – so you've probably got a decent chance of wanting to transfer money to someone with a compatible device – maybe 25% or so?

Knowing Apple's UX, it'll be rather easy-to-use if it's available – so I'm not sure that the overhead of 'figuring out if the other person uses an iPhone' would be any higher than figuring out if they use Venmo or PayPal or Square or whatever the other options are.

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