PayPal CEO Dan Schulman doesn’t expect the new Apple Pay Cash service to gain much traction. His unsurprising comments came during an interview with The Telegraph.
Schulman says Apple’s person-to-person payment system will struggle because “We’re technology agnostic,” explaining:
Many individuals are [a] multi-operating system; they can have an Android phone, a Microsoft PC and an Apple tablet. You don’t want a different payment methodology on each of those things … you want a consistency across that.
We try to offer a consistent value proposition, that’s end-to-end, across operating systems and device type. It’s a powerful advantage we have.
PayPal’s Venmo app is currently the leader in the peer-to-peer payments services market.
Apple Pay Cash, first announced on June 5, will allow you to make person-to-person payments via Messages. It’s expected to launch, at least in the United States, on iOS 11 this fall.
Sent your money
For more on iOS 11, see: