Skip to content

What could an Apple person-to-person payment system look like?

Rodrigo Amorim

That is, no payments to buy things, but to be able to send money to a friend. It’s already something that other big companies like PayPal are trying with pretty decent tools like PayPal Me.

What could an Apple person-to-person payment system look like?
What could an Apple person-to-person payment system look like?

How can this service be? Will it be reliable? Will it require any kind of commission? Will it use a separate application? At this point we can only make assumptions, but from additional sources we have reason to believe that absolutely nothing would need to be installed in order to use these payments.

Apple would use the idea that Facebook has already done: integrate these person-to-person payments into instant messaging . We could send money through the same iMessage, where an additional button would allow us to use the payment method we have added to our Apple account to send small amounts of money.

These are the ingredients that all companies are clear about when they present their services. Without sacrificing security , passing money to a friend or family member has to be something tremendously simple. In the video above you have the case of Facebook Messenger, which is not yet active in Spain.

iMessage builds on a good foundation to do this. Its encryption is so complex that even the AED has complained about not being able to access it, and the TouchID sensors on iOS devices can be used to verify any money transfers we make. We would simply have to convince the banks to authorize these payments, which normally are of small amounts of money but very frequent .

Apple Pay is a good basis for setting up this so-called “person-to-person” payment service

The base is already seated: Apple Pay. With it we can pay for the content that Apple sells us and for the services that the websites that have implemented the service offer us. At the moment it can only be used in the United States and the United Kingdom (and this week it will be launched in Canada for all American Express card users).

It is easy to imagine the process . We open an iMessage conversation, click a button to send a payment, type in the amount, confirm everything with our fingerprint, and you’re done. The recipient would accept the payment by confirming it with their finger as well and we would be notified.

I am not going to get excited and say that this is the end of cash, but I could assume that we would stop going through the ATM as often as we do now.

At Apple