Apple currently lets you use your phone to pay for goods at stores, and soon it could also let you pay money to your friends.
A new report claims that Apple could launch a Venmo competitor that’ll let iPhone owners send money to other iPhone owners. Details on the service are still light, though. One source suggested that Apple’s new service could launch later this year, but another suggested that a launch date hasn’t yet been set.
Apple has reportedly also talked with Visa about crafting its own prepaid card on the Visa debit network, says Recode. The Apple card would be tied to this new peer payment service and let you spend money that’s sent to you without waiting for it to be cleared to your bank account. The card could also be added to your Apple Pay wallet to pay for goods at stores and on websites.
While still a rumor, an Apple service that let you send money to friends could be a nice compliment to Apple Pay. The service would likely be more deeply integrated with iOS than competing services would be and it could help to boost usage of Apple Pay, especially if Apple got that prepaid debit card that it’s rumored to be in talks with Visa about.
Do you use services like Venmo, PayPal, and Square Cash? Would you use a similar service from Apple?