Apple to launch P2P payments and debit card this year?

Apple is working to launch a peer-to-peer (P2P) payment service later this year, according to Recode. “The company has recently held discussions with payments industry partners about introducing its own Venmo competitor,” the publication reports. Apple is also in talks with Visa about creating its own prepaid cards that would tie to the P2P service, Recode says. “Users could then add the debit card, which may only come in a digital form, to their Apple Pay digital wallet to use for tap-and-pay purchases at brick-and-mortar stores.”

  • Willam Hugh Murray, CISSP

    While the physical card remains in the drawer, I now use my BoA debit card account via Apple Pay. Added it to Apple Pay so that I could do secure transactions at the BoA cardless ATM. Try not to use any card with a magnetic stripe.