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Yup, pretty much. I can't imagine how Apple concluded that "It's exactly like Venmo in every way, but it only works for people with iPhones!" would make a part

Yup, pretty much. I can't imagine how Apple concluded that "It's exactly like Venmo in every way, but it only works for people with iPhones!" would make a particularly compelling value proposition.

ceeplusplus 4y ago
That's basically iMessage vs. FB Messenger/WhatsApp/Signal/SMS.
Biologist123 4y ago
Venmo not available to me in Europe. Can’t wait to have Apple Cash. Like mobile money in Africa, various service providers will jump up to allow cross wallet transfers.
- konschubert 4y ago
  People use paypal for this in Europe EDIT: Ok, maybe just in Germany. And just to be clear: Paypal is an adverse company that tries to trick its users on every page.
  - _rutinerad 4y ago
    I live in Northern Europe and I've never heard of anyone using Paypal for anything other than paying for things online. Each country has their own specific service that the majority uses (MobilePay, Siirto, Swish, etc).
    - kekub 4y ago
      It is pretty common in Germany (at least in my bubble) to transfer money via paypal to one another.
      - nicoburns 4y ago
        Does Germany not have fast bank transfers? In the UK, people used to use PayPal for this until the Faster Payments system came in, which meant that you can instantly transfer money to anyone with a UK bank account via your normal banking app. I think it technically takes 24-48 hours to clear, but that doesn't tend to be an issue in practice. You'll get the push notification telling you the money has arrived and your balance will update in seconds.
        leipert 4y ago
        You have fast transfers in Germany, but it is new, an extra box to tick, normal online banking is horrible UX and you have to know the IBAN of the account. Giving someone my email is way easier.
        konschubert 4y ago
        Plus it costs extra and many banks don't support it. It's a mess. I wish this was faster, imagine paying online by scanning a QR code with your banking app. There would be non risk of chargebacks for merchants and fees could be basically zero.
      - deleted 4y ago
        [deleted]
  - drclau 4y ago
    I don't know anyone using Paypal for this scenario. However, people do use Wise and Revolut.
    - pretext-1 4y ago
      In my country (in EU) everyone uses it. Friends, colleagues, family, everyone. That part is great. But the app sucks. I wish PayPal would fix their app. Animations are buggy, it's slow (not really slow but slow enough to show a loading spinner every time) and navigating through the app is hard.
      - weberer 4y ago
        In Finland, I've only seen people use MobilePay
      - drclau 4y ago
        I did have to use Paypal recently to pay for HBO Max, because they would not accept debit cards for whatever reason, and I lost my patience with their support. You are right, the Paypal app is really bad. You should give Wise and/or Revolut a try. The apps are way better, and probably one of the best features both have is virtual cards (Revolut has also a one-time card that is automatically destroyed after use). Note that you also get physical cards with both. I think Revolut has a few more features that Wise lacks, like travel and device insurance, but for the financial part, the features are nearly identical. Also, currency exchange rates are way better than traditional banks.
deleted 4y ago
[deleted]
Gigachad 4y ago
The compelling value proposition is users trust Apple a shitload more than random startups and have enough apple user friends to make it work. The sad part is that these apps are needed at all. In Australia the government just regulated that all banks must support free and instant money transfers and that email addresses and phone numbers be supported as addresses to send to. So if your friend wants to send you money, you type their email on any bank app and it pops up with their legal name confirming you have the right person. The money shows up instantly.
- impulser_ 4y ago
  They don't release Android apps, therefore you still need to use Venmo and Cash App if you want to send money to someone. So people aren't going to use this over Venmo, Cash App or PayPal. Google Pay supports iOS which is why it used over Apple Pay in countries where iPhones aren't the dominate mobile OS.
  - ethanbond 4y ago
    I mean... I singlehandedly disprove your claim. I use Apple Cash very frequently, even in cases where both parties have other apps on their phones. IMO they don't need to remove Venmo or Cash App from the market in order to have a meaningful product that adds value for their customers.
shrimpx 4y ago
For what it's worth, other big companies are building their own verticals, like Messenger Payments and Google Pay.
muraiki 4y ago
Venmo has continually failed at privacy: https://www.legalreader.com/venmos-at-it-again-privacy-issues-think-about-money-transfer-apps/ https://www.legalreader.com/venmos-at-it-again-privacy-issue... Privacy is an area where Apple tries to differentiate. It’s not great that this is Apple only, but it’s also nice that it just works.
mhb 4y ago
I've never used Venmo since I thought that it made your transactions public by default. Maybe this isn't even true, but I think it is and that just seemed so insane I didn't want to go anywhere near it.

Yup, pretty much. I can't imagine how Apple concluded that "It's exactly like Venmo in every way, but it only works for people with iPhones!" would make a particularly compelling value proposition.

ceeplusplus 4y ago

That's basically iMessage vs. FB Messenger/WhatsApp/Signal/SMS.

Biologist123 4y ago

Venmo not available to me in Europe. Can’t wait to have Apple Cash. Like mobile money in Africa, various service providers will jump up to allow cross wallet transfers.

konschubert 4y ago
People use paypal for this in Europe EDIT: Ok, maybe just in Germany. And just to be clear: Paypal is an adverse company that tries to trick its users on every page.
- _rutinerad 4y ago
  I live in Northern Europe and I've never heard of anyone using Paypal for anything other than paying for things online. Each country has their own specific service that the majority uses (MobilePay, Siirto, Swish, etc).
  - kekub 4y ago
    It is pretty common in Germany (at least in my bubble) to transfer money via paypal to one another.
    - nicoburns 4y ago
      Does Germany not have fast bank transfers? In the UK, people used to use PayPal for this until the Faster Payments system came in, which meant that you can instantly transfer money to anyone with a UK bank account via your normal banking app. I think it technically takes 24-48 hours to clear, but that doesn't tend to be an issue in practice. You'll get the push notification telling you the money has arrived and your balance will update in seconds.
      - leipert 4y ago
        You have fast transfers in Germany, but it is new, an extra box to tick, normal online banking is horrible UX and you have to know the IBAN of the account. Giving someone my email is way easier.
        konschubert 4y ago
        Plus it costs extra and many banks don't support it. It's a mess. I wish this was faster, imagine paying online by scanning a QR code with your banking app. There would be non risk of chargebacks for merchants and fees could be basically zero.
    - deleted 4y ago
      [deleted]
- drclau 4y ago
  I don't know anyone using Paypal for this scenario. However, people do use Wise and Revolut.
  - pretext-1 4y ago
    In my country (in EU) everyone uses it. Friends, colleagues, family, everyone. That part is great. But the app sucks. I wish PayPal would fix their app. Animations are buggy, it's slow (not really slow but slow enough to show a loading spinner every time) and navigating through the app is hard.
    - weberer 4y ago
      In Finland, I've only seen people use MobilePay
    - drclau 4y ago
      I did have to use Paypal recently to pay for HBO Max, because they would not accept debit cards for whatever reason, and I lost my patience with their support. You are right, the Paypal app is really bad. You should give Wise and/or Revolut a try. The apps are way better, and probably one of the best features both have is virtual cards (Revolut has also a one-time card that is automatically destroyed after use). Note that you also get physical cards with both. I think Revolut has a few more features that Wise lacks, like travel and device insurance, but for the financial part, the features are nearly identical. Also, currency exchange rates are way better than traditional banks.

deleted 4y ago

[deleted]

Gigachad 4y ago

The compelling value proposition is users trust Apple a shitload more than random startups and have enough apple user friends to make it work. The sad part is that these apps are needed at all. In Australia the government just regulated that all banks must support free and instant money transfers and that email addresses and phone numbers be supported as addresses to send to. So if your friend wants to send you money, you type their email on any bank app and it pops up with their legal name confirming you have the right person. The money shows up instantly.

impulser_ 4y ago
They don't release Android apps, therefore you still need to use Venmo and Cash App if you want to send money to someone. So people aren't going to use this over Venmo, Cash App or PayPal. Google Pay supports iOS which is why it used over Apple Pay in countries where iPhones aren't the dominate mobile OS.
- ethanbond 4y ago
  I mean... I singlehandedly disprove your claim. I use Apple Cash very frequently, even in cases where both parties have other apps on their phones. IMO they don't need to remove Venmo or Cash App from the market in order to have a meaningful product that adds value for their customers.

shrimpx 4y ago

For what it's worth, other big companies are building their own verticals, like Messenger Payments and Google Pay.

muraiki 4y ago

Venmo has continually failed at privacy: https://www.legalreader.com/venmos-at-it-again-privacy-issues-think-about-money-transfer-apps/ https://www.legalreader.com/venmos-at-it-again-privacy-issue... Privacy is an area where Apple tries to differentiate. It’s not great that this is Apple only, but it’s also nice that it just works.

mhb 4y ago

I've never used Venmo since I thought that it made your transactions public by default. Maybe this isn't even true, but I think it is and that just seemed so insane I didn't want to go anywhere near it.