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Apple Apparently Planning Mobile Peer-To-Peer Payment Service (thestack.com)
An anonymous reader writes: According to the Wall Street Journal, Apple is planning peer-to-peer services (paywalled) as an adjunct to its Apple Pay system. The company is said to be in talks with major banks including JP Morgan and Wells Fargo to develop a new framework that could be in place as early as 2016, and which would facilitate payment transfers directly between Apple devices such as the iPhone and the Apple Watch.
My bank has let people do that for some time. Then again, I'm in Canada ...
"Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
or the pee-e?
I am curious as to why banks have to be involved at all.
With Apple's market penetration, I can see this taking off where some previous offerings haven't done so well. I wonder about the logistics behind any such system, would you have to tie a checking account to your Apple ID? Would people be willing to do that?
On a lighter note, I saw a recent episode of Drugs Inc. where they showed a cocaine dealer with his Square dongle plugged into his phone, bragging that he can take credit cards. Consumer to consumer micro-transactions are an interesting [To Read the Full Comment, Subscribe to My Comments]
Thanks to the War on Drugs, it's easier to buy meth than it is to buy cold medicine!
I suppose Apple will think they can get away with taking 30% of each transfer.
would facilitate payment transfers directly between Apple devices such as the iPhone and the Apple Watch
Don't they mean, payment between people? I don't see how transferring anything, especially money, makes sense from an iPhone to an Apple Watch.
(I know what they meant: transfer from account holder to account holder via their devices... but an Apple Watch is just an extension of the phone, so is unnecessary to label it in this context.)
First Tim Cook announces that cash will soon become a thing of the past; then the next thing I hear is that they are going to do peer-to-peer payments. I get the feeling that this is some Steve Jobs type marketing at play to build a potential hype train.
You mean like Google Wallet? Or am I missing something. Make it BitCoin and do something interesting.
Agent K: A *person* is smart. People are dumb, stupid, panicky animals, and you know it.
To be called, iOU I guess.
We do not have Apple Pay og Android Pay. But we have MobilPay and Swipp that is tranfert money to other for free. Or use in stores (Stores has to pay a small fee. but less the to the CC company. But free for private persons)
MobilPay chage your debitcard and put the money in bank account (No fee for the Dankort Debit card) and Swipp is Bank account to Bank account.
And beside that people can use there bank app to transfer money. Bank to bank transfer in Denmark is free.
That said. The easy of just transferring in app is easy. And we can also request money. That the person you request from just have to accept to transfer.
would you have to tie a checking account to your Apple ID? Would people be willing to do that?
I know that people woudl be willing to do this, because this is how paypal works as well. Paypal is tied to my checking account and they can withdraw or deposit funds. that's why it's so dangerous to get your paypal hacked as compared to a CC.
there's no reason to use apple products
Now they can steal your phone AND the rest of your money.
I''m not sure if there's a significant demand for making person-to-person cash transfers, though. The only person I ever give any cash to is my daughter, and in any case I can do it through my bank's iOS app already.
Baby sitter, friend picking up stuff for you at the store, settling a bet, paying your dealer (not exactly advisable), etc.
Splitting the lunch/dinner bill. At the drive though you transfer to the driver rather than passing cash. Or at a sit-down restaurant one person pays the bill with a credit card and the others transfer their portion of the bill to that person. Friends/co-workers have done this for many years, except we're usually passing cash to whoever paid. Internally we refer to it as friends ATM.
I wonder about the logistics behind any such system, would you have to tie a checking account to your Apple ID? Would people be willing to do that?
Plenty of people have already set up iTunes and/or Apple Pay and tied either a credit card or a bank account to their phone for that; if Apple is clever they will leverage that somehow, so that their new feature doesn't require any additional signup above what Apple Pay or iTunes purchases already require.
I don't care if it's 90,000 hectares. That lake was not my doing.
Peer to peer is BITCOIN, and you can do it right now, today, on your phone, computer, whatever, peer to peer, as in you and your neighbor, with no one else, effectively for free. That's peer to peer.
Bitcoin isn't "really" peer to peer. It is peer to peer to entire blockchain network of millions of people. Bitcoin is the very OPPOSITE of peer to peer transaction. It has a middleman of, pretty much, everybody who owns a bitcoin.
Another one was the chipknip card system in the Netherlands. It was used for small payments without a connection to the banking system.
It went live in 1996 and was shut down at the end of last year.
https://en.wikipedia.org/wiki/Chipknip
JP Morgan also loves blockchain technology but does not love bitcoin. JP Morgan also invented the credit swaps that caused the Greek financial crisis.
JP Morgan is getting ready for the US dollar to fail. http://www.bloomberg.com/news/...
We already have that in denmark. It is free to transfere money by smartphone to other smartphone user or shops. It is directly connected to a credit card system. It works on iOS, Android and Windowa Phone. It is free and all you need to transfere to an other person is there phonenumber.
It works great and a large part of the population have startet using it.
Apple is planning peer-to-peer services (paywalled)
A paywalled peer-to-peer service, huh? Yeah, I'd say that sums up Apple pretty well.
You can already attach money in Gmail.
...richie - It is a good day to code.
USian banks are total fucking scum. The only reason the locals tolerate them is because they're a bunch of over-polite pussies.