Is 'Apple Cash' on the horizon?

Is 'Apple Cash' on the horizon?

Storing funds opens up a whole can of regulatory worms, in part to adhere to anti-money-laundering regulations. Cupertino was granted a patent back in 2015, for instance, which could pave the way for an iMessage-based peer-to-peer payment platform, similar to how Venmo and SquareCash for iMessage function.

All the while, P2P has seemed like an opportunity for Apple Pay to expand into.

In addition to that, Apple could be working on a pre-paid Visa card to cash out on your Apple Pay wallet.

Apple Pay on the Web. Recode reports that the company wants to announce the payments-between-friends feature later this year - although plans can change.

A peer-to-peer service would matter to Apple because the company is looking to increase recurring revenue from selling services to its users.

DJI incorporates with Hasselblad to launch an epicly powerful drone camera
As an added bonus, via their HDMI input, the goggles can also be used for things like watching movies or playing video games. With a battery life per recharge of around six hours, the Goggles pack plenty power.

Apple's also talked with Visa about creating prepaid debit cards tied to such a new service, Recode says - which could boost usage of Apple Pay that's been lighter than expected. The cards would also have their own numbers so that they could be used for online purchases. That's why Apple continues to explore new ways to implement Apple Pay. PayPal's Venmo followed with $17.6 billion in transactions. Apple Pay on the Web is delivering our partners great results. Rumor has it that Apple recently held meetings with other payment industry companies. That process takes more time, and Apple Pay represents a meaningful improvement in convenience in that context; it really has the potential to be a game changer as more and more sites and apps implement Apple Pay.

These services have typically been money losers for the new entrants in the space, but are seen as the gateway to the next generation of payment and personal finance services. Meanwhile, there are still costs associated with facilitating those payments. The success of Venmo and Square Cash proves that. Just this month, the social network added the ability to send group payments among friends.

While we share many recommendations and ideas with the public, certain moves are hidden from everyone but chosen members of our portfolio services. Loup Ventures analyst Gene Munster estimates that Apple saw $36 billion in total Apple Pay transaction volume past year.

If Apple did get into the money transfer business, it would be a late entry into a crowded market, much as Apple Music was.

As it stands, Apple plays nicely with Venmo. PayPal is a prime example of this and its Venmo system is particularly popular among digital-savvy millennials.

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