Currency Wallet For the Masses
At WWDC 2017, there was a short segment where Apple introduced a new feature for iMessage. In iOS 11, they will allow Apple Pay users to send cash to one another with their iPhone or watch. It’s similar to Venmo and supposedly they don't charge a fee. You can pay and get paid directly from Messages or tell Siri to pay someone, using the credit and debit cards they have in their Wallet. When users get paid, they receive the money in their new Apple Pay Cash card in Apple Wallet and can use the money instantly.
How It Works
You can choose to transfer those funds from the virtual card to your bank, but they can also remain on the card, where they can be applied to transactions both in-store and online. This is a significant move on Apple’s part, because payments companies can make money by holding users’ balances.
What Do You Think?
This feels a lot like a centralized crypto wallet to me. What do you think? Is this what we need to build confidence and bring crypto currency to the masses? Should you be buying Ethereum and Bitcoin or just invest in AAPL?
What do you make of all of this?