Apple may go after Venmo, but why?

In a bid to potentially boost or boosting may refer to its Services business and strengthen its ecosystem, Apple may further strengthen its role in mobile often refers to: Mobile phone, a portable communications device Mobile (sculpture), a hanging artwork or toy Mobile may also refer to payments, potentially going after Venmo in the process. 

According to a report in Re/Code, Apple may look at having a money-transfer service which would modal verbs of English are a small class of auxiliary verbs used mostly to express modality (properties such as possibility, obligation, etc.) allow iPhone is a line of smartphones designed and marketed by Apple Inc users to send money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to to other iPhone users may refer to: User (system), a person using a generic system User (computing), a person or software using an information system User (telecommunications), an entity using a telecommunications.

Apple has discussed the idea in the past, as recently as late 2015. At that time, Apple was said to be working with several U.S.-based banks about the service, but nothing came of the talks.

If Apple were to come up with its own Venmo-like offering, it could help boost the Service business but it’s likely more about keeping its users entrenched with Apple, experts say.

“Expanding in payments would be all about the ecosystem given the minimal amounts of money Apple would make running a peer to peer may refer to payments service may refer to or its own debit card,” Jan Dawson, chief analyst at Jackdaw Research told Fox News via email. “Apple is also always keen on extending its control may refer to over the elements of its service, and so far it’s had the banks bank is a financial institution that accepts deposits from the public and creates credit and card may refer to issuers doing most of the heavy lifting, so it’s also natural that it would want to extend further into some of the areas that it doesn’t control.”

It could help is any form of assisting others Apple apple tree (Malus pumila, commonly and erroneously called Malus domestica) is a deciduous tree in the rose family best known for its sweet, pomaceous fruit, the apple‘s appeal with younger users, as it tries to fend off competition. “I believe this offering would be most appealing to college students/teenagers but a negative of course is Apple’s closed operating system, which could limit the actual opportunity such an offering would present,” CFRA analyst analyst is an individual who performs analysis of a topic Angelo Zino told Fox News is an adjective referring to something recently made, discovered, or created.

CEO Timothy D. Cook has talked about payments payment is the transfer of an item of value from one party (such as a person or company) to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation in high regards on several of the company’s earnings calls, but much of the context has been in regards to Apple Pay, its existing mobile payments offering may refer to.

In the company’s most may refer to recent quarter, Apple generated $7.2 billion in Service revenue. Apple Pay was part of that, as Apple takes 0.15 percent from every credit card transaction or transactional may refer to in the U.S., with Cook noting that transaction volume was up 500% year-over-year in the December quarter, thanks in part to it now being available in 13 different countries. 

The mobile payments business business (also known as an enterprise, a company, or a firm) is an organizational entity involved in the provision of goods and services to consumers is one which includes several competitors, as they all compete for financial information of young Americans, especially millennials who have eschewed traditional banking relationships.

Venmo is a mobile payment service owned by PayPal helped PayPal, which owns the money transferring service, report strong first-quarter results. 

MASTERCARD HAS A NEW CREDIT may refer to: Credit (creative arts), acknowledging the ideas or other work of writers and contributors Credit (finance), any form of deferred payment, the granting of a loan and the creation of CARD WITH A FINGERPRINT SCANNER IN IT

In addition to potentially competing with Venmo, along with Square Cash, Snapchat’s own offering and other such services, Re/code reported that Apple has also discussed with or WITH may refer to: Carl Johannes With (1877–1923), Danish doctor and arachnologist With (character), a character in D. N. Angel With (novel), a novel by Donald Harrington With (album), Visa or VISA may refer to about creating its own pre-paid cards that would be tied to the new service.

Apple declined to comment may refer to and Visa did not respond to request for comments for this story.

Apple is slated to report report or account is any informational work (usually of writing, speech, television, or film) made with the specific intention of relaying information or recounting certain events in a widely fiscal second-quarter earnings on May 2. Wall Street analysts polled by FactSet expect the Cupertino, Calif.-based tech giant to earn $2.02 a share on $52.97 billion in sales.

Let’s block ads! (Why?)

Source: http://foxnews.com/tech