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

Finance & Internal Ops Lead

Glimpse

New York,

Full Time

USD 140000 — USD 220000 yearly

Head of Accounting

SafetyWing

Full Time

USD 90000 — USD 144000 yearly

Accounts Payable- Associate

Kodo

Maharashtra,

Full Time

USD 300000 — USD 500000 yearly

Data Acquisition Specialist (Colombia location)

Veryfi, Inc.

Antioquia,

Full Time

USD 24000 — USD 36000 yearly

Senior Software Engineer

Morphle Labs

Karnataka,

Full Time

USD 2500000 — USD 4000000 yearly

Senior Backend Engineer

Vapi

California,

Full Time

USD 150000 — USD 300000 yearly

Account Manager

Hona

Utah,

Full Time

USD 80000 — USD 85000 yearly

Founding Applied Research Engineer

FurtherAI

California,

Full Time

USD 150000 — USD 220000 yearly

Sr. Software Engineer - Product

Luminai

California,

Full Time

USD 170000 — USD 250000 yearly

Database Engineer — Postgres Internals

ParadeDB

New York,

Full Time

USD 120000 — USD 250000 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 - 2025 BEAMSTART. All Rights Reserved (Legal).