PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Apple Joins the Market for Person to Person Payments

By Sarah Grotta
December 5, 2017
in Analysts Coverage
0
7
SHARES
0
VIEWS
Share on LinkedIn
Fintechs in Brazil: More Than Just Credit Cards, It Is the Super-App, PIX recurring payments

Fintechs in Brazil: More Than Just Credit Cards, It Is the Super-App

Apple’s entry into peer-to-peer payments took a major step forward with the launch of Apple Pay Cash, giving consumers another way to send and receive money digitally. Integrated directly into Apple’s Messages app, the Apple P2P payment service allows users to transfer money through familiar Apple devices, including the iPhone, iPad, and Apple Watch. The tight integration could make P2P payments particularly convenient for consumers already immersed in the Apple ecosystem.

However, Apple Pay Cash entered a competitive market where services such as Venmo, Square Cash, and Zelle had already established significant user bases. Apple’s restriction to its own devices could also limit its reach compared with services that work across multiple operating systems. Still, Apple’s ability to combine P2P transfers with Apple Pay and a stored prepaid balance gives the company an opportunity to make person-to-person payments part of a broader digital payments experience.

Apple’s P2P service, Apple Pay Cash, is now up and running.  Business Insider provides a step-by-step accounting of how to set up and transact with the new service and some background on the launch:

On Monday, the company launched Apple Pay Cash. The feature allows users in the United States with an up-to-date iPhone to send money to other iPhone users through the company’s Messages app. 

A direct competitor to other digital cash apps like Venmo and Square Cash, Apple Pay Cash was first announced in June, at Apple’s annual developer’s conference. It was originally supposed to launch with iOS 11, the latest version of the operating system underlying the iPhone, which Apple released in September. But the company delayed its launch until the release of iOS 11.2, which the company made available over the weekend. 

Unlike its competitors, Apple Pay Cash doesn’t work on Android devices. However, you can send payments using the service via an iPhone, iPad, or an Apple Watch.

 Business Insider characterizes Apple Pay Cash as a “Venmo Killer”, which remains to be seen.  Although Apple Pay Cash users may find the Apple P2P service very convenient to use through iMessages, Venmo has a significant earlier-to-market lead, has already captured millions of users and will deliver transactions regardless of the sender’s or the recipient’s device operating system.

Apple, like Venmo and Zelle, offer the opportunity to spend funds received through the P2P service to make purchases.   Apple accomplishes this through the use of virtual prepaid accounts managed through Green Dot’s GoBank.  This account will store funds that can be used to fund Apple Pay transactions.   Alternatively, P2P balances can be directed back to the user’s bank account.

The launch of Apple Pay Cash demonstrates how Apple can use its control over hardware, software, messaging, and payments to create a highly integrated P2P payment experience. Allowing consumers to retain received funds for Apple Pay purchases or transfer the money to a bank account also gives the service functionality beyond simply sending money between individuals.

Whether Apple Pay Cash can challenge established P2P services will depend largely on consumer adoption and the value users place on that integration. Venmo and other competitors have important advantages, including established networks and broader device compatibility, but Apple’s enormous installed base gives its P2P payment service a substantial platform from which to grow.

More details on Apple Pay Cash from Apple can be found here.

Overview by Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group

Read the full story here

7
SHARES
0
VIEWS
Share on LinkedIn
Tags: Apple PayP2P

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Secured Credit Cards, Biometrics Integration Smart Cards, digital banking transformation

    Turning Digital Banking Into a Lending Opportunity

    November 13, 2026
    ai synthetic identity fraud

    Identity Crisis: The AI-Powered Rise of Synthetic Identity Fraud

    November 12, 2026
    first-party fraud prevention

    How Automation Is Changing the Fight Against First-Party Fraud

    November 11, 2026
    agentic payments governance

    From Know Your Agent to Govern Your Agent: Building the Control Layer for B2B Agentic Payments

    November 10, 2026
    merchant management APIs

    How Merchant Management APIs Are Streamlining Operations

    November 9, 2026
    digital wallet threats

    Why Digital Wallet Security Is Becoming More Complex

    November 6, 2026
    faster payments, Synchrony

    Just How Large Is the Potential Market for Stablecoins?

    November 5, 2026
    agentic commerce strategy

    Will There Be a First-Mover Advantage in Agentic Commerce?

    November 4, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result