Apple In Talks With Banks For Person-to-Person Payment Service

H

HardOCP News

[H] News
Joined
Dec 31, 1969
Messages
0
I know Apple likes to just throw an "i" in front of everything but, if this becomes a reality, they should totally name it ApPal. :D

Apple Inc is in talks with U.S. banks to develop a person-to-person mobile payment service, the Wall Street Journal reported. The talks are ongoing and it is unclear if any of the banks have signed an agreement with Apple, the Journal said, citing people familiar with the matter.
 
I like the idea honestly. If done correctly (that if is so huge) it would make things like splitting bills or paying bets or borrowing etc from friends an easier thing as I and most of my friends dont carry cash anymore.
 
Darunion said:
I like the idea honestly. If done correctly (that if is so huge) it would make things like splitting bills or paying bets or borrowing etc from friends an easier thing as I and most of my friends dont carry cash anymore.
Click to expand...

It's funny how some people don't carry cash anymore and others, like me, are so tired of data breaches that we mostly ditch our cards and use cash as often as possible.
 
Old_Way said:
It's funny how some people don't carry cash anymore and others, like me, are so tired of data breaches that we mostly ditch our cards and use cash as often as possible.
Click to expand...

Or needing a dollar and everyone has 20s lol. Also, why are we still using pennies?

I have had a CC stolen digitally before, it is nice when you call up the bank and they change your account number and wipe out those payments so I have no liability in it. I really personally would love to see physical cash go away. Robbing someone would get a deactivated phone at best once that happens. People get killed all the time for money in their wallet/purse same with phones, but maybe with there being too high of a chance the robber would get nothing, it could change these statistics.Maybe more online thefts instead of car break-ins or purse nabbings.
 
Darunion said:
Or needing a dollar and everyone has 20s lol. Also, why are we still using pennies?

I have had a CC stolen digitally before, it is nice when you call up the bank and they change your account number and wipe out those payments so I have no liability in it. I really personally would love to see physical cash go away. Robbing someone would get a deactivated phone at best once that happens. People get killed all the time for money in their wallet/purse same with phones, but maybe with there being too high of a chance the robber would get nothing, it could change these statistics.Maybe more online thefts instead of car break-ins or purse nabbings.
Click to expand...

Yeeesss, so much that stuff! With there being so much less cash around it's a lot more difficult to get money by robbing someone and yeah, since there's no liability if my card number is stolen, I'd a million times rather deal with that over having some criminal totally doped up on weed or whatever pointing a gun at me or knife or something to mug me or worse.

The idea of payments through phones is pretty good except that there's gotta be some kind of standard and there needs to be some sort of device that works the same way for people to use who don't wanna pay a price premium for the ability to do so. (The premium being a phone and service plan since those are totally a rip off and smartphones are hugely unnecessary in reality.)
 
Do you really think banks are going to agree to be taken out of the loop?

There is a reason banks are making record profits every quarter while increasing user fees and letting go of employees so they can be replaced with temporary foreign workers.
 
Darunion said:
I really personally would love to see physical cash go away. Robbing someone would get a deactivated phone at best once that happens. People get killed all the time for money in their wallet/purse same with phones, but maybe with there being too high of a chance the robber would get nothing, it could change these statistics.Maybe more online thefts instead of car break-ins or purse nabbings.
Click to expand...

You're assuming the criminals wouldn't adapt (make you send cash to their stolen phone at gun point), or just get mad and shoot you because you don't have any cash in your wallet.

I do find the "Sorry I don't carry any cash" ploy to work pretty good with panhandlers.
I'm just waiting for one to call my bluff, and pull out their iPhone with a credit card reader.
 
Emission said:
That couldn't come soon enough. It's 2015, what the fuck are we still doing using paper money?
Click to expand...

And when the only access you have to money is through your phone, what happens when it is lost/stolen, or the government puts a freeze or limit on your accounts?

Cash = Freedom. No cash means no freedom.
 
nutzo said:
You're assuming the criminals wouldn't adapt (make you send cash to their stolen phone at gun point), or just get mad and shoot you because you don't have any cash in your wallet.

I do find the "Sorry I don't carry any cash" ploy to work pretty good with panhandlers.
I'm just waiting for one to call my bluff, and pull out their iPhone with a credit card reader.
Click to expand...

True, but it also gives the ability for it to be intercept-able. Theft will happen either way, but this leaves footprints behind each transfer. Not to mention it will need smartphones, so maybe the crackheads will have to get jobs and thus help out the unemployment numbers :D
 
You must log in or register to reply here.
Back
Top