Apple plans to launch money transfer service

As the source informs with reference to the thematic resource Recode, Apple plans to launch a money transfer service. To this end, the manufacturer of the iPhone negotiates with industry representatives.

The service will allow owners of smartphones iPhone to transfer funds to each other. According to some, he will be presented this year.

If the information on Apple’s plans is true, the company plans to enter the market where it will have to compete with PayPal and Square, as well as the services offered by the major banks.

In addition, the source claims that Apple is in talks with Visa about creating your own prepaid cards that would be used in the network Visa debit cards being tied to the above money transfer service. It is assumed that thus Apple is planning to encourage the use of their own mobile payment service Apple Pay. The service, which started two-and-a-half years ago, yet its reach is much less than expected.

Representatives for Apple and Visa declined to comment on the message.

Source: Reuters

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