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Apple until the end of the year will launch its own money transfer service

Apple is discussing the possibility of creating its own money transfer service, which will allow monetary transactions using iPhone and iPad. The service will work by analogy with the mobile app Venmo from PayPal.

The Cupertino-based company is discussing with partners the possibility of creating your own service that will allow you to carry out monetary transactions using mobile devices. According to Recode, Apple has already consulted with financial companies on the development of competitor Venmo.

If the information is confirmed, Apple will offer its own service, allowing iPhone owners to transfer funds to each other. The launch, according to sources, you can declare this year. The exact date is not yet determined.

In 2015, Apple has already conducted negotiations on the development of such an application, but then the company never provided the product.

The source emphasizes that the competition in this market is high, as there are already many mobile payment services, however, the majority of them is unprofitable for the owners.

Apple has not yet responded to the request of journalists on the confirmation given in the publication of information.

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