No launch date has been set, but sources claim it could arrive in 2016.
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Like the original launch of Apple Pay, it seems many details are still up in the air. According to sources, banks want to know how a P2P payment program would tie into existing infrastructure.
There’s also likely some heels dragging over what cut Apple may take, if any. Apple Pay transactions yield a small percentage for Apple, which transfers encrypted info between banks and payment terminals.
While there are definitely a lot of kinks to work out on this one, Apple Pay is bound to support money transfers at some point. It’s just a matter of time.
➤ Apple in Talks with U.S. Banks to Develop Mobile Person-to-Person Payment Service [The Wall Street Journal]