Apple in Talks to Launch 'Apple Cash' Money Transfer Service

Apple in Talks to Launch 'Apple Cash' Money Transfer Service

An Apple Pay that works between users could be the jumpstart that the service needs.

Rumors about a peer-to-peer money transfer service emerged in 2015 after Apple started talking to banks (JPMorgan Chase, US Bancorp, Wells Fargo and Capital One) about a money feature. The Wall Street Journal previously reported that Apple was looking to launch person-to-person Apple Pay mobile payments previous year, although obviously nothing came of it. According to Piper Jaffray analyst, Gene Munster, Apple Pay processed as much as $36 billion in mobile payments previous year, despite falling short of estimates. If someone sends you money using Apple Pay, you could be able to use this balance using this card. "The service would allow iPhone owners to send money digitally to other iPhone owners". As the company has already learned with Apple Pay, consumer payment habits, once formed, are hard to change.

ReCode is out with a report that Apple (NASDAQ:AAPL) is expected to push further into the Fintech space by providing a Venmo-like peer to peer money transfer service. The company reportedly registered $17.6 billion this past quarter.

Judge homers in 3-1 win over Red Sox
AL Cy Young Award victor Rick Porcello (1-3) lost his third straight start, giving up three runs - two earned - in 6 2/3 innings. The Red Sox couldn't muster a fair ball in the air until the final out of the third, and managed only four against Severino.

If launched, the service would likely fall under the Apple Pay umbrella. The idea is for users to spend these cards through the money transfer service.

Apple Pay was first announced at the iPhone 6 launch event in September 2014.

Apple Pay usage has been lighter-than-expected since its launch two and a half years ago, the website reported, citing sources from big USA banks. Apple Pay is now accepted by over 2,000 banks, worldwide.

Clashes between students and forces leave 26 injured
When the police did not allow them to proceed towards a market, a clash broke out between the students and the policemen. The incident was reported from Government Degree College Pulwama, about 40 km from Srinagar.

Still, limiting the payments service to Apple devices only seems absurd - here's hoping Apple opens up its walled garden just a little bit, should the product ever come to fruition.

Industry insiders are much more excited about the service's future inside of websites and apps.

Apple Pay started as P2B and now wants to expand to P2P, while Venmo started as P2P and wants to expand to P2B.

Ennis-Hill not expecting Chernova apology after doping ban
The 2012 Olympic heptathlon champion wants to see a clean summer as she prepares to collect her third World Championship gold. Great Britain's Kelly Sotherton, who originally placed fifth in the Beijing heptathlon, will now be upgraded to bronze.

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