Apple may well launch a money transfer service similar to PayPal. Since the launch of Apple Pay, the Cupertino company is very interested in financial services.
According to rumors, Apple would work on a transfer service with integrated prepaid cards. According to Recode, Apple could create a money transfer service in order to compete with PayPal and SquareCash. IPhone users could thus send money more easily on their mobile phones. Sources even say that conversations with other partners are under way.
Apple would be in the process of negotiating a partnership with Visa. There is talk of prepaid cards with which users could pay in store using the money received. This system would allow users to receive money and pay for their purchases without this money going through a bank account.
With this new project, Apple will face other companies already well established. However, the company can count on its millions of iPhone users.
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