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Mobile Payments

Apple to launch mobile P2P payment service

Monday 1 May 2017 | 12:14 PM CET

Apple is likely to launch its own mobile person-to-person payment service, according to a report from Recode.

Apple could launch the service later in 2017, but Recode cited a source that said a definitive launch date isn't set.

The service would enable iPhone users to transfer funds to each other. Prior Apple patents have described a mobile P2P system that relies on iMessage.

Recode also reported that Apple has had discussions with Visa about creating its own prepaid cards that would run on the Visa debit network and which would be tied to the new peer-to-peer service.

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