Just read an article in Fintech news
(Apple Pay person-to-person transfers will be free with debit card, incur 3% fee with credit card
By: Neil Hughes
Thursday, June 8, 2017 3:51 PM)
Appears Apple is trying to get in on the ability to directly send funds from 1 person to another, without a middle man. The problems I see are that it only works Apple Pay to Apple Pay. The receiving party can only get the funds on an "Apple Pay Cash" card.
Looks like they see the value in Blockchain transactions and the ability to cut out the middleman. I can see this as a very popular option, but at least to start, it leaves out anyone that does not have an Apple device (that would be me).
Also, for those movimg into the Crypto Currencies, you still face the fact that your transfers are still in US dollars, which the government can and does print at will.
I will be interested to watch how their new service progresses and compares to cryptos on the Blockchain.
At least it introduces people to the idea of disintermediation, that should help to be an on-ramp to crypto. Then they just need to get decentralization, and the world can be one :)
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