Apple May Develop Its Own Venmo-esque Cash App

Apple is in talks to launch its own Venmo

According to a report from Recode, Apple has recently held discussions with partners in the payments industry about a service that would allow iPhone owners to send money to other iPhone owners. One source told Recode that the company plans to announce the service by the end of the year.

Apple is in talks to launch its own money transfer service similar to Venmo, according Recode. Why would Apple want to do that?

The issue with peer-to-peer payment apps in general is that it's hard to make money off of them. These cards would be tied to the service, giving iPhone owners a physical product as well as a digital one.

Apple may be the next company to provide a money-transfer service. At the moment, the timeline for the program is still fluid, as the program could potentially launch this year.

Sony Cuts Ties with Dr. Luke
Luke claimed it was Kesha who owed him $1.3 million in unpaid royalties, and failed to provide notice and a 30-day cure period. Luke and Sony Music have made any official comments regarding the recent termination of Gottwald's relationship with Sony .

In addition to the payment service, Recode has also learned that Apple talking to Visa about creating pre-paid cards that would run on Visa's debit network.

Venmo alone, a popular choice for the millennials, processed $17.6 billion in transfers last year, continuing the trend of doubling the amount year over year. This would put Apple in a position to compete with existing services like Venmo or Square Cash. It is now the most widely accepted mobile payment system in terms of support by USA retailers and enjoys wide acceptance globally among banks and financial institutions. Apple Pay works at supported retailers that accepts contactless payments in fifteen countries, including the United States and China.

Apple has been rumored to be working on a peer-to-peer, Venmo-competitor money transfer app since 2015. The Wall Street Journal reported Apple analyst Gene Munster estimates Apple Pay saw around $36 billion in transactions during 2016. Would it use rewards program to encourage them to use it and ditch their debit card?


  • BlackBerry KEYOne U.S. Release Date Confirmed

    BlackBerry KEYOne U.S. Release Date Confirmed

    BlackBerry's latest smartphone has finally launched in the United Kingdom , although it's not easy to get your hands on one. After a long wait, TCL has finally announced the launch date for the BlackBerry KeyOne for the U.S. and Canada markets.
    Final Fantasy 12: The Zodiac Age Gets New Screenshots And Trailer

    Final Fantasy 12: The Zodiac Age Gets New Screenshots And Trailer

    And if you have guessed it, both " Final Fantasy VII Remake " and " Kingdom Hearts 3 " have been placed in "FY 2018 and beyond". The talks regarding " Kingdom Hearts 3's release date began when the company's investor document has been shared in NeoGaf ".

    Body of missing Joliet toddler found in mother's home

    Semaj was last seen wearing a gray, long-sleeve shirt with a cat face; and blue jeans, according to the sheriff's office. Ackerson said nothing investigators had learned indicates that the girl did not wander off on her own.
  • Mets push back Syndergaard, start Gsellman vs. Braves

    Mets push back Syndergaard, start Gsellman vs. Braves

    Cespedes left last Thursday's loss to Philadelphia with a cramp in his left hamstring and returned to the lineup Wednesday. Cespedes pulled up lame after rounding first base on a one-hop double in the bottom of the fourth inning.

    Trump Administration to Brief US Lawmakers on North Korea Strategy

    In Beijing, Chinese foreign ministry spokesman Geng Shuang said THAAD would upset the "strategic balance" in the region. Security Council meeting Friday created to get nations to enforce existing penalties on North Korea and weigh new ones.

    Police say 'minimal but necessary force' used on United passenger

    One quote from the documents that stands out: officers describe only using " minimal but necessary force to remove the subject". He then did an about face, offering Dao a public apology for the way he was treated. "Not a lick of it", Demetrio said.
  • After attack, France looks toward weekend presidential vote

    After attack, France looks toward weekend presidential vote

    The centrist independent candidate Emmanuel Macron urged France not to succumb to the fear that extremists seek to spread. She said in a CNN interview after the US election in November that Trump's unexpected win could boost her own chances.
    Senate confirms No. 2 at Justice; will lead Russian Federation  probe

    Senate confirms No. 2 at Justice; will lead Russian Federation probe

    Rod Rosenstein was overwhelmingly confirmed to be the next deputy attorney general, after a Senate vote that was 94-6 Tuesday. Rosenstein has said he will make that determination once fully briefed on the status of the investigations.
    Aaron Hernandez's Connecticut hometown prepares for funeral

    Aaron Hernandez's Connecticut hometown prepares for funeral

    Kennedy has now been placed on suicide watch while his lawyer is currently processing a request for him to see one of the letters. Family members and close friends gathered for an invite-only private funeral in Hernandez's hometown of Bristol, Conn. on Monday.
  • Turkey election board rejects petitions to annul referendum

    Turkey election board rejects petitions to annul referendum

    The Kremlin said that Putin phoned Erdogan and congratulated him on the "successful conduct" the referendum. Turkey's main opposition party has filed a formal req.
    Who knew Trump would go after Canada?

    Who knew Trump would go after Canada?

    However, US lumber companies are satisfied with the decision, following Trump's pledge to put America first. If confirmed, the tariffs would then have to be approved by the US International Trade Commission (USITC).
    Google to Revise Search Rankings to Downplay Fake News, Hate Speech

    Google to Revise Search Rankings to Downplay Fake News, Hate Speech

    Google has commenced tweaking its search algorithm to curb unscrupulous circulation of fake news and hate speeches online.


Latest news

Brewers 360: Levering impressed by Thames start; demeanor
Franco connected off Wei-Yen Chen (2-1) in the third inning with a shot to left-center for a 4-2 lead. He is 4-0 with a 0.91 ERA in his last seven starts against NY dating to June 21, 2015.

Kia Motors to start work on $1.1-bn India manufacturing facility
Forecasts suggest that the country will become the third- largest vehicle market by the end of 2020. The reproduction of the story/photograph in any form will be liable for legal action.

US Says Turkish Airstrikes In Syria, Iraq Kill Partner Counter-ISIS Fighters
Separately, a YPG spokesman said 20 fighters had been killed there and 18 more injured, Kurdish media network Rudaw reported. The US has expressed "deep concern" at Turkish air strikes that killed about two dozen Kurdish fighters in Syria and Iraq.

French court refuses to extradite Kosovo ex-prime minister
It had previously said that it would abolish its extradition treaty with France if Haradinaj were not handed over. She said it is unclear whether he will stay in France.

Featured Stock Overview: Intel Corporation
Heading into the earnings release, covering analysts have a consensus target price of $39.97 on Intel Corporation shares. A low number in the 1-2 range typically indicates a Buy, 3 represents a Hold and 4-5 represents a consensus Sell rating.

Nintendo Switch sales are off to a very strong start
And Nintendo expects to sell about 35 million Switch games , overall, in the coming fiscal year. Adding in the Wii U version , the game sold more than 3.84 million copies.

India says will 'explore all options' to bring spy Kulbhushan Jhadav back
Pakistani security agencies kidnapped him and presented him to the military tribunal as an Indian agent". Indian Home Minister Rajnath Singh is also of Sushma's view.

It's being used by police to try to expose who murdered her.
Prosecutors say her husband's alibi that a masked intruder attacked him first and then went after his wife just doesn't add up. Now Connecticut authorities have charged Mr Dabate with murder, tampering with physical evidence and making false statements.

Roberts: Senate confirms Trump's pick for agriculture secretary
David Perdue (R-GA) - cousin of Sonny Perdue - declined to participate due to their close connection. The Senate has confirmed former Georgia Gov.

United States wants to bring North Korea 'to path of dialogue'
Meanwhile, US senators have arrived in Washington for an extraordinary briefing on the threat posed by North Korea. North Korea's growing nuclear and missile threat is perhaps the most serious security challenge confronting U.S.

Erin Moran's husband reveals her tragic final days with skin cancer
She also starred in the same role in the spinoff titled " Joanie Loves Chachi " which aired from 1982 to 1983. Authorities say former "Happy Days" star Erin Moran likely died from cancer at her southern in home.

Braves Fans Share Excitement About New SunTrust Park
Brandon Phillips and Adonis Garcia gave the Braves the lead with back-to-back home runs, giving Atlanta a 4-2 advantage. Chapman got his third save on the season. "The thing was dancing around pretty good", Braves manager Brian Snitker said.

United says it won't use police with bumped passengers
More than 90 percent of passengers bumped from a flight on a major U.S. airline a year ago volunteered, according to the U.S. Normally, when trying to rectify an overbooked flight, airlines offer passengers sums of money before they board the plane.

Dale Earnhardt Jr. announces retirement
The weight of the NASCAR world was thrown onto the young driver in 2001 when his father was tragically killed in the Daytona 500. Hendrick Motorsports announced Tuesday morning that Dale Earnhardt Jr . will retire from NASCAR at the end of the 2017 season.

Drake to Host First Ever NBA Awards Show
The inaugural NBA Awards on TNT will take place on Monday, June 26, at Basketball City at New York City's Pier 36 at 9 p.m. Rapper Drake has been announced as the host of the first-ever NBA Awards on TNT .

Other news