Monday, June 19, 2017

PayPal Executive Dismisses Apple Pay Cash Success


Person-to-person money transfers through Apple Pay are another feature that will debut with the definitive version of iOS 11, which is expected for September. For conventional users, this new feature can be really useful for processing small amounts of payments between groups of family and friends, however for those more knowledgeable about this type of operations, the Apple Pay Cash would have little reach.
As stated by the executive director of PayPal, Dan Schulman, the jump from Apple to this type of services would face strong competition, referring to PayPal and other companies of this style.
PayPal Executive Dismisses Apple Pay Cash Success

Apple releases person-to-person payment service in September

For Schulman, Apple's proposal for its person-to-person payment service called Apple Pay Cash offers no advantage over PayPal's Venmo service, which is a leader in the US market and is already thought In its launch in the rest of the world, where the general service of PayPal also generates important sums of money.
Also, the director of PayPal referred to the exclusivity of the Apple service for their devices, something in which PayPal offers a clear advantage:
Many people work with a multi-operating system; They may have an Android phone, a Microsoft PC and an Apple tablet. And they do not want a different payment methodology in each of those things ... but they need a consistency for all.
Similarly, Dan Schulman noted:
We try to offer a consistent value proposition, from end to end, through the operating systems and the type of device. It's a powerful advantage we have.
The Apple Pay Cash service will be available in the United States for the first few months since its launch, but it is still unknown how soon it will cross borders to other countries.
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