According to unnamed sources speaking to the Wall Street Journal, Apple is looking to expand Apple Pay to include a person-to-person payment option in order to compete with services like PayPal’s Venmo or Google’s person-to-person payments through Google Wallet.
The sources said that no deals have been struck with any banks yet, but the WSJ notes that heavy-hitters such as JP Morgan Chase, Capitol One, Wells Fargo, and US Bank have sat down with Apple to discuss the possibility of a partnership. Several banks, like Chase, already have a person-to-person payment function through their own website or app.
One source told the paper that a person-to-person option could get off the ground as early as next year.
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