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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

#111

Post by dntrkv »

mixmastamyk wrote: post #84

The US is so archaic in banking I'm not surprised that it takes Apple to do something about it, a shame. I'm still sending a paper check to the landlord every month, ha! What is this, the 70's? The rest of the world already has direct, often immediate, free money transfers a few clicks away, and for a long time. We should focus there, rather than inserting more middle-men. When I was in New Zealand, we even paid for…

We already have similar tech here in the US, it just hasn't been adopted by everybody yet.

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

#112

Post by feld »

finnn wrote: post #11
feld wrote: 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?

Don't Apple Pay and Android Pay operate almost identically now? The original Google Wallet/Pay implementation which I used years ago via NFC was different. I don't believe the Android Pay name change is just branding.

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

#113

Post by kalleboo »

MBCook wrote: post #55
drcode wrote: post #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.

That article is a year old, and somewhat off. Apple's recent cloud stuff has all worked very well for me. The only spotty things are CoreData syncing (which may be deprecated, it's certainly not encouraged) and anything that touches iTunes (which is probably the oldest infrastructure they have). Stuff they've launched since then such as iCloud Photos has been working great. Heck Apple Pay works extremely well and tha…

I don't agree, both iCloud Photos and Apple Music have been quite buggy for me.

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

#114

Post by jjtheblunt »

facetube wrote: post #74
eva1984 wrote: post #56

Earlier quoted context omitted.

Venmo is quite easy to use IMO and I didn't feel it is particularly insecure because it is backed by PayPal. That being said, a lot of my friends just use Chase QuickPay to transfer money, which works really well. TBH, I don't know how a potentially device/OS restricted service is going to play here. Maybe they need better PR to educate Android users to install their app.

Paypal has a history of tying up their customers' funds for no good reason. They've done this to online fundraisers in the past, and even attempted to coerce a campaign benefitting the Red Cross into redirecting donations to the United Way in 2005. I refuse to do business with Paypal or Paypal-related companies whenever possible.

yep...and i agree : i avoid them.

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

#115

Post by x0x0 »

habosa wrote: post #95

I'll use Venmo until they pry it from my hands, it's one of the most life-transforming services I have ever used. I'll just repost my comment from the last Venmo thread here: ========================================= Venmo was started by UPenn alums so it was popular among my friends long before it was a phenomenon (one of my good friends interned there and wrote the BlackBerry app). I used to use it exclusively by S…

I'm still stunned that people use Venmo. Letting paypal or any of their ilk -- and I'm one of the many people with a very negative paypal experience -- have access to your bank account sidesteps many or most of the consumer protections that credit cards give you. It's all fine until it isn't, and when it goes wrong, Venmo has possession of your money and can suck funds straight out of your checking account. Your cc doesn't and can't. If something goes wrong between you and your cc, they have to go to court to get their hands on your cash and you have a whole set of protections, ranging from general consumer laws to the courts themselves, the FDCPA, and the CFPB.

viz http://www.slate.com/articles/technology/safety_net/2015/02/...

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

#116

Post by seekingcharlie »

dntrkv wrote: post #111
mixmastamyk wrote: post #84

The US is so archaic in banking I'm not surprised that it takes Apple to do something about it, a shame. I'm still sending a paper check to the landlord every month, ha! What is this, the 70's? The rest of the world already has direct, often immediate, free money transfers a few clicks away, and for a long time. We should focus there, rather than inserting more middle-men. When I was in New Zealand, we even paid for…

We already have similar tech here in the US, it just hasn't been adopted by everybody yet.

Where? I bank with Wells Fargo and to make a wire transfer to anyone in the US, I have to physically walk into a branch and it costs $20.

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

#117

Post by sunnyps »

andreyf wrote: post #99
sunnyps wrote: post #43

Earlier quoted context omitted.

Whatsapp would like to have a word with you. With iMessage you have to turn off SMS to make it really secure and once you do that you lose the ability to communicate with a large number of non-iOS users. OTOH Whatsapp is secure by default.

Whatsapp is secure by default Source, please?

http://www.wired.com/2014/11/whatsapp-encrypted-messaging/

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

#118

Post by brazzledazzle »

seekingcharlie wrote: post #116
dntrkv wrote: post #111

Earlier quoted context omitted.

We already have similar tech here in the US, it just hasn't been adopted by everybody yet.

Where? I bank with Wells Fargo and to make a wire transfer to anyone in the US, I have to physically walk into a branch and it costs $20.

Bank of America and Chase both have it. You can send money to someone using their email address or mobile phone number.

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

#119

Post by brazzledazzle »

jjtheblunt wrote: post #45
drcode wrote: post #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.

Are you kidding? The ubiquity of very secure hardware in iPhone 6 and later phones does not present a uniquely trusted advantage, over the many clumsy-to-use earlier startups?

One problem is the fact that you need to have an iPhone. Unless Apple makes it usable on Android. That would legitimately surprise me.

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

#120

Post by bnj »

bg0 wrote: post #106

I love Apple and all but they'd have to somehow make it easier then Venmo, because it would be pretty hard to convince my non-tech friends AGAIN to move away from something that works so well

Easier than having it automatically installed on your phone, already aware of your contacts and payment details, and able to recognize nearby iphones and offer them as Payee's?

This service will push adoption of apple pay as well as benefit as people start to use it; I predict it'll take off here in exactly the same way that Paypass and similar took off in Australia when they were introduced. Lots of skepticism tied to a huge acceleration in uptake.

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