Bad News for PayPal As Apple’s New Rumored Service Surfaces

Apple would have big advantages if it decides to enter the person-to-person payment space.

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New rumors surfaced recently that Apple (NASDAQ:AAPL) might soon throw its hat into the person-to-person (P2P) mobile payment ring. The news isn’t entirely a surprise. Apple received a patent for a similar feature over the summer and the growing interest in mobile payments from other tech companies (Facebook and Alphabet‘s Google come to mind) means that Apple would be unwise if didn’t at least look into its own offering.
And while the P2P payment space may getting more crowded, there’s one major player that should be at least a little bit concerned that Apple may be about to show up: PayPal (NASDAQ:PYPL).

News Source:fool.com

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