Apple is in talks with U.S. banks over a potential person-to-person mobile payments service, reports The Wall Street Journal. Such a service would perhaps be positioned as an expansion to Apple Pay, and it would allow people to send each other payments, much like PayPal’s Venmo or Square’s Square Cash service.
This is massive.
Technology is most welcomed when it’s used to solve big problems. Not slightly improve on already good solutions, but fix the big pains in life.
Sending money to people is one of those things. It really, really sucks.
Now imagine a combination of Apple Pay, Square Cash, and TouchID to do it instead. Or maybe something even slicker.
That’s not a nice to have; it’s a:
Holy damn why didn’t we have this before?
Apple excels at those, and I can’t wait to see what they do for this.
- I wrote about this need here.