“Apple is wading into Venmo’s main business, betting that letting users easily send money to each other will make its Apple Pay service more appealing,” Ian Kar writes for Quartz. “It appears Apple has been considering a move into the area for at least a year. A job posting for a ‘Senior Architect’ for Apple Pay from November 2014 viewed by Quartz mentioned an interest in the ‘money transfer’ space.”
“One way Apple might add money transfer services to iOS is through iMessage, the proprietary messaging service, according to people who have discussed the program with Apple,” Kar writes, “It’s already one of the most used default apps on iPhones and is especially popular with the younger crowd—a survey by messaging service Jott found that 60% of teens say that it’s their preferred messaging app, according to TechCrunch.”
Read more in the full article here.
MacDailyNews Take: Baking P2P payments into the Messages apps would certainly be an elegant, easy-to-use solution!
SEE ALSO:
Apple discussing mobile person-to-person payment service with major U.S. banks – November 11, 2015
Is Venmo the dyslexic spelling of Venom?
Nope, that’s Emnvo, no Nemov, no…
more interestingly… I think adding financial transactions to iMessage would give more justification for Apple’s end-to-end encryption of iMessage. particularly in light of the proposed regulatory powers bill in the UK which is demanding access to people’s messages for surveillance purposes. whereas if there is a financial aspect to iMessage, well it’s Asher to justify end-to -nod encryption 😉
more interestingly… I think adding financial transactions to iMessage would give more justification for Apple’s end-to-end encryption of iMessage. particularly in light of the proposed regulatory powers bill in the UK which is demanding access to people’s messages for surveillance purposes. whereas if there is a financial aspect to iMessage, well it’s easier to justify end-to -end encryption 😉
Interesting. And if that money is crossing currency barriers, Apple will profit on the spread.
With reasonable rates, this could be a huge hit, especially for cross border money transfers. International wire transfers cost a fortunate, making the transfer for a few hundred dollars not very cost effective.
Oh wait, this service could enable the terrorists and drug dealers and spell ruin for the American way of life. Therefore, we can’t have that!
Genius! I think iMessage has a lot of potential to replace really any type of electronic communication, it just needs to be developed further with new amazing features such as this.
Tencent’s WeChat, China’s hottest social media app, already does this. It creates a WeChat account where you can swap WeChat money, or you can transfer money from your bank account to another.
So simple, you’d think it was from Apple.
So you can buy stuff from Taobao with it.