Apple is reportedly in talks with U.S. banks about the potential to develop person-to-person transfers to Apple Pay to compete with PayPal Inc.’s Venmo platform.
Citing people familiar with the developments, The Wall Street Journal reports that the talks with banks are continuing and it is unclear if any of the firms have struck an agreement with Apple.
Growing popularity of person-to-person payment service
Person-to-person payment service facilitates users to transfer money to friends. The service has been growing fast with tech companies from Google to Facebook to Square increasingly competing with each other to persuade users to adopt their person-to-person services.
Apple’s reported move could...
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