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Apple Pay: soon a service to send money to friends?

Apple Pay logo - Apple Pay arrive aussi à Hong Kong

Apple Pay logo - Apple Pay arrive aussi à Hong Kong

Apple

Posted: November 19 2015
Updated: November 19, 2015

by Martin

According to a recent report from Wall street journal, Apple is currently in talks to launch a new mobile payments service between individuals. It would be a system similar to Apple Pay, but to send money to friends or family.

The Californian brand would negotiate with American banks on the terms and conditions of this service, which could be launched in the course of next year. The article from WSJ says it’s unclear whether deals have already been reached, and how Apple might implement this feature.

Apple Pay logo - Apple Pay: a service to send money to friends soon?Apple would thus compete with other similar services available mainly in the United States such as PayPal Venmo, Facebook Messenger or Gmail, which offer to send money easily and free of charge to loved ones.

Always according to Wall street journal, Apple has discussed the project with several US banks including Wells Fargo, Chase, Capital One and JP Morgan. Under current plans, Apple would not charge banks for processing person-to-person payments. This would therefore differ from Apple Pay, with banks paying a tax on each transaction.