Apple Cash: Apple New Payment System

A rumor has developed since last summer, whether Apple is going to introduce their, own payment system in this year? Sources confirm that Apple may be announcing their own payment system after this fall iPhone event. It can be assumed that Apple will name their payment system as “Apple Cash”. However it can be suggested that company’s Venmo-like service is still very early in development.

Apple new payment service would include a major partnership with Visa, which will allow users to obtain digital pre-paid cards that would run on Visa's debit network but be tied directly into Apple's peer-to-peer service, and could also be added into Apple Pay. Thus users could get pay through Apple cash without having to wait for it to clear to their bank account. Apple is planning not to charge the users to use the new service.

Apple wants a chaos free payment service, so that users can spent their money where they wants. The new payment system will be a hassle free system, where users can easily send their money to their friend, colleague, parents, or their children. Apple is planning to target the teenagers for their new payment system user. Apple lovers have to wait for the new payment system and should look forward the partnership between Apple and Visa.

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