Latest News – Apple has announced that it will enable person-to-person (p2p) payments within its instant messaging service iMessage with the roll-out of its latest mobile operating system iOS 11 later this year.
The service will be made available through Apple Pay, the company’s proprietary payment service that currently allows users to pay for things in stores, on the web and within apps.
While Apple Pay is not available in India yet, over the past one year the company has made at least five patent applications with the Indian patent office for innovations related to digital payments. The announcement was made on Monday at its Worldwide Developer Conference (WWDC).
For p2p payments, Apple will not route money through a user’s credit or debit cards, but through an Apple Pay Cash Card. The move will put Apple in contention with services similar to Paytm, essentially making Apple Pay a digital wallet which will store money that a user will be able to transfer into a bank account or pay at any place that accepts Apple Pay.
While Apple has confirmed that p2p payments will go live within iMessage, it is not clear if the feature will be available outside of the company’s instant messaging service.
The company’s move seems to mimic social networking giant Facebook’s which has already begun testing payments within its messenger service and is also bringing it to (Read More)