Apple Pay is suddenly a threat to PayPal and Square

Apple is adding person-to-person payments to Apple Pay and integrating the technology into Messages


BEAM Team

7 Jun, 2017

Apple Pay is suddenly a threat to PayPal and Square | BEAMSTART News

- From our Sponsors -

Apple is adding person-to-person payments to Apple Pay and integrating the technology into Messages, the company announced today at its Worldwide Developers Conference in San Jose, California.

Venmo first popularized P2P payments, which became a feature of PayPal when it bought the company in 2013. Square added the feature through Square Cash, while other apps like Circle and Snapcash embraced the feature. Apple has been slow to bring P2P payments to Apple Pay, despite the 375 million users who have access to the app.

That will change with iOS 11. Apple is introducing the P2P payments feature into iMessage, so users can more easily send money to friends they are messaging with. During a chat, for example, machine learning technology will detect a mention of payments and include an Apple Pay button on the keyboard.

Apple also announced Apple Pay Cash, its own digital debit card that lets recipients of P2P payments transfer the cash to a bank account or spend it at ecommerce sites and physical retail stores.

Despite its late entry into P2P payments, Apple now poses a real threat to PayPal’s Venmo, Square, and others. Apple Pay is huge: Craig Federighi, Apple’s senior vice president of software engineering, said that half of U.S. retailers will offer Apple Pay by the end of the year.

Share prices of Square and PayPal were up on the day, but had declined from session highs after Apple made the announcement.

- From our Sponsors -

Latest Jobs

Senior Full Stack Software Engineer

Trayd

New York, United States

Full Time

USD 100000 — USD 160000 yearly

Enterprise Sales Development Representative

Turing Labs Inc.

New York, United States

Full Time

USD 50000 — USD 120000 yearly

First SDR Hire

Vimcal

New York, United States

Full Time

USD 75000 — USD 105000 yearly

Director of People

Rose Rocket

Toronto, Canada, United States

Full Time

Salary Undisclosed

Senior Product Manager

Vahan

Bengaluru, India, United States

Full Time

USD 2500000 — USD 4500000 yearly

Revenue Director (Go-to-market areas)

Pulppo

Mexico City, Mexico, United States

Full Time

USD 50000 — USD 80000 yearly

🤝🏼 Talent Lead

Replo

San Francisco, United States

Full Time

USD 100000 — USD 130000 yearly

People Partner Intern

Finku

Jakarta, Indonesia, United States

Internship

Salary Undisclosed

Full Stack Engineer

kapa.ai

United States

Full Time

USD 80000 — USD 119998 yearly

JavaScript Automation Intern

HiOperator

San Francisco, United States

Internship

USD 17 — USD 25 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).