How will iMessage payments stack up to Square Cash and Venmo?

How will Apple stack up to other forms of mobile payments
By Lauren Goode.

Earlier this week Apple announced it will soon be rolling out peer-to-peer payments, effectively (bad pun alert) swiping at services from Square, PayPal-owned Venmo, and giant banks that already let you pay friends through mobile apps.

Apple is well-known for biding its time while it watches other companies enter a market, then coming in later with a product or service it thinks will somehow be better. The peer-to-peer payments service is no exception; the question is whether Apple’s will actually be better than the others.

The short answer is we really don’t know yet. I only saw glimpses of “Apple Pay Cash” at WWDC this week, and wasn’t able to pay a friend through iMessage myself. But I saw enough to make me think that Apple has a very distinct advantage with iMessage, even though it’s limited to iOS devices. At the same time, Apple still has some important feature and naming decisions to make before it officially rolls this out in the fall.

Read more at The Verge.

Be first to comment