Apple in talks to launch money-transfer service Recode

It's rumored that these companies could be pressuring Visa against working with Apple - possibly delaying the related money-transfer service and contributing to Apple's indecision over when and how to launch the effort. Apple is reportedly looking to expand its finance offerings and potentially launch a Venmo competitor, Recode reports. According to Recode, the company has been talking to its partners (mostly banks) about introducing some sort of option, which a source said could be announced as soon as later this year.

In 2015, the company had talks with banks about it.

I don't think Apple would charge for this service as competing services don't charge for this kind of transactions.

Instagram offline mode available for Android version
Facebook also added chat extensions to the app that will let users share songs and even reserve tables directly from the chat. Additionally, users will be able to save any pre-loaded posts to their personal collection, create new posts and save drafts.

Venmo, owned by PayPal, first hit the market in 2016 and lets users send money to each other in seconds. You can utilize them to split dinner bills or pay rent.

Financial institutions, however, are anxious such a move would bolster Apple Pay at the expense of their own credit and debit cards, as the company could easily give priority to its payment method within the app while downplaying everything else. So, say I wanted to send a buddy some money, well, Apple Pay couldn't have helped me out there.

And one of the major causes for the low numbers is that Apple Pay is not widely accepted everywhere. Loup Ventures analyst Gene Munster estimates that Apple saw $36 billion in total Apple Pay transaction volume previous year. Consumers can also use Apple Pay accounts to pay for items within apps and on the web. The idea is for users to spend these cards through the money transfer service. At the time it was suggested that Apple would offer peer payments through its proprietary messaging service, iMessage.

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Competition in this area is high, and it continues to go up. Just this month, the social network added the ability to send group payments among friends. Some are asking about how Apple would entice its users to use Apple Pay.

It's unclear exactly how these debit cards would work, but it's said they can be used at brick-and-mortar retailers alongside from within apps and websites.

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