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Apple Apparently Planning Mobile Peer-To-Peer Payment Service (thestack.com)

Posted by samzenpus on from the easy-pay dept.

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.

8 of 69 comments (clear)

  1. A bit late to the table. by BarbaraHudson · · Score: 3, Interesting

    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.
    1. Re:A bit late to the table. by BarbaraHudson · · Score: 2

      A fee of $1.50 is charged to the sender for sending money to the recipient in Canada. No charge to the recipient.Can be done via email or app, pick your poison.

      Obviously, international transfers are going to cost more.

      Also, it's going to cost more if you use other methods.

      --
      "Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
    2. Re:A bit late to the table. by BarbaraHudson · · Score: 2

      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.

      --
      "Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
  2. the pee-r by turkeydance · · Score: 2

    or the pee-e?

  3. Payment between devices? by nullchar · · Score: 2

    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.)

  4. Like Google Wallet? by Archangel+Michael · · Score: 2

    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.
  5. Another iService by Vlijmen+Fileer · · Score: 2

    To be called, iOU I guess.

  6. yay by slashmydots · · Score: 3, Insightful

    Now they can steal your phone AND the rest of your money.