Is Apple Planning to Compete with Paypal?

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chocobo

We're becoming an increasingly cashless society, and money transfer via phone will be part of the future. I can't think of anyone more suited to do this than Apple.

Imagine if they made a deal with a bank to allow for instant payments (vs Paypal's 3 days to transfer and withdraw) and reduced fees... set it up so you can transfer money instantly just like cash, and with a minimal fee. A whole lot of iPhone customers would switch to that bank, and so would the vast majority of everyone on eBay.

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comptech08

" and so would the vast majority of everyone on eBay."

 

That will not happen.  Ebay owns and operates paypal.  So probably ebay will not do that.

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chocobo

Ebay themselves wouldn't do anything, but when 90% of their customers start doing offering Apple Payments or whatever, they don't really have any choice.

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nekollx

 App-Pal does have a nice ring to it.

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