Apple Working on Peer-to-peer Payments Service
- Thursday, November 12th, 2015
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Apple is reportedly working on a peer-to-peer payment service, enabling users to send money to their friends.
According to the Wall Street Journal, the company is in talks with banks including Chase, Capital One and Wells Fargo, with a potential launch as early as next year.
Its sources claim that banks wouldnt pay anything on these peer-to-peer transactions, unlike payments made through Apple Pay.
Further details on the service are scarce. Its probably a safe bet that this would be introduced as an Apple Pay feature, and possibly be available on Apple Watch, but for now this is still speculation. 
If Apple goes ahead with the service, however, it will be interesting to see how similar services like PayPals Venmo in the US or Barclays Pingit in the UK, which have enjoyed great success, would fare against a name as big as Apple.
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