(Reuters) — Apple Inc is in talks with U.S. banks to develop a person-to-person mobile payment service, the Wall Street Journal reported.
The talks are ongoing and it is unclear if any of the banks have signed an agreement with Apple, the Journal said, citing people familiar with the matter.
The service, which would compete with PayPal Inc’s popular Venmo, would allow users to transfer funds from their checking accounts through Apple devices, the Journal reported on Wednesday.
