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Is there any evidence these chat based payment apps (venmo, apple pay, facebook messenger, snapchat...?) are replacing credit card transactions in the US? They
by drb91 8y ago
Is there any evidence these chat based payment apps (venmo, apple pay, facebook messenger, snapchat...?) are replacing credit card transactions in the US? They seem to replace person to person cash transactions instead.
- drivingmenuts 8y agoShould Apple Pay be on that list? AFAIK, it's not possible to pay someone directly Apple Pay to Apple Pay. It's more like the standard stand-in for a credit card. Don't get me wrong, I'd love for Apple Pay to be that convenient, but it's not there yet. Ed: changed easy-to-use to convenient
- vel0city 8y agoYou can send money through iMessage with Apple Pay Cash. You can even use an Apple Watch or Siri to send person to person cash transfers. https://support.apple.com/en-us/HT207875 https://support.apple.com/en-us/HT207875
- MBCook 8y agoIt is now with Apple Pay Cash, as the sibling comment pointed out. HOWEVER, that’s backed by a real bank account at a real bank Apple chose for the purpose (in the US). Transfers involving credit (paying as credit card or using a credit card to move money in) still hit the standard fee. Other transfers are just normal US debit transfers. So Apple Pay Cash isn’t bypassing anything, at least in the US. It’s further entrenching them. Don’t know how it works in other countries.
- TACIXAT 8y agoVenmo takes a loss just to get people into the PayPal ecosystem. The other P2P options are just there in hopes they take off. My understanding of Apple pay was that it's just a pass through for credit card transactions. Those P2P apps need to branch into physical retail.