Apple may in 2016 to release application for payment with phones

NEW YORK, November 12. /Corr. Ivan Sawyers/. American Corporation Apple in the next year to introduce a mobile application that will allow you to instantly transfer funds and make purchases using your cell phone without using cash or Bank cards. This is stated in an article published Wednesday in the electronic version of the American newspaper The Wall Street Journal.

According to sources, currently the company is negotiating with the American financial companies, looking for those with whom she could join the partnership in creating an application. Consultations are held in particular with JP Morgan Chase, Capital One Financial, Wells Fargo and U. S Bancorp.

Details regarding the technical specifications of the new system have not been disclosed. As stated in the article, the service should allow users to instantly make purchases or transfer funds using devices made by Apple, and without the use of cash and Bank cards. It is assumed that the application can be associated with the payment system, called Apple pay.

As pointed out by The Wall Street Journal, if the Corporation will introduce a new service, it can be a strong competitor to existing apps of this kind, including Venmo, which is owned by PayPal.

“It is still unclear how Apple will be able to earn with the help of this service, however, it is another attempt by the company to bind itself to customers, persuading them to use the iPhone for everyday tasks, including financial transactions”, – notes the edition.