Apple Considers Integrating Person-to-Person Payments in iMessage [Report]

Earlier this week the Wall Street Journal reported that Apple has been talking with banks about a person-to-person payment service. Today, Quartz has published an update to that story: The service may be integrated into Apple’s native messaging app, iMessage, according to people familiar with the matter.


A move in this area isn’t new for Apple. Quartz spotted a “Senior Architect” job listing in 2014, which mentioned interest in the “money transfer” space. Now Apple is looking for financial partners for this service, so it can skip filing for money transmitter licences, according to people familiar with the matter. PayPal, Venmo, Facebook, and even AirBnb have such licences.

The possible reasons for Apple’s interest in the P2P space are (1) it’s a feature popular among millennials and (2) this could help the company attract more Apple Pay users. But from what the sources say, Apple isn’t looking to make money out of P2P payments.

One way Apple might add money transfer services to iOS is through iMessage, the proprietary messaging service, according to people who have discussed the program with Apple. It’s already one of the most used default apps on iPhones and is especially popular with the younger crowd—a survey by messaging service Jott found that 60% of teens say that it’s their preferred messaging app, according to TechCrunch.

Other tech players, such as Facebook, have already entered the market, but as Quartz points out, Facebook offers the service at a loss. Now it remains to be seen if Apple figures out how to make it break-even.

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  • Andre

    Yes! Quicker and more efficient phishing!

  • MGSayah

    Not at all. You’d have to access to the device, good luck getting past the lock screen. Then you’ll have to validate the transaction using your fingerprint through Touch-ID.

  • Andre

    If someone phishes me and sends a text, I have access to my phone.

  • MGSayah

    When you get an iMessage from an unknown number, theres an option to “Block number” and besides that no one tells you to send money to anyone who sends you an iMessage requesting to be paid XX amount.

  • Andre

    You’re not going to understand this, are you?
    When you get an email trying to phish you, you shouldn’t click on their link either. But if someone gullible gets a link in an iMessage stating that someone is sending them money, they just might fall for it if sending money by iMessage is known to be commonplace.
    Yes, you’re right, I can block them, and I would, and I certainly wouldn’t click on their link, but some people will fall for it (after of course they’ve gotten past all the security on their own iPhone to do so).
    Why would you come here and argue this isn’t going to happen? When email was invented, did you claim that people would never do bad stuff with it too?

  • David Guitard

    Canada Bank won’t permit Apple Pay due to other fee.
    On skip the agreement bank service will like work on Canada Credit Card for P2P money transfer?

  • ????Dennis

    Suddenly, prostitutes everywhere are getting iPhones…