PayPal CEO Discounts the Upcoming Apple Pay Cash Feature
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: