Apple (NASDAQ:AAPL) is in talks with payment industry partners, restarting chatter about a possible launch of its own peer-to-peer money-transfer service, Recode reports.
Such a move would resurrect speculation from a couple of years ago, and put it in competition with entrenched service Venmo (PYPL +6.9%), popular with young customers, among others -- and would likely be a long play considering that the services tend to be money losers for new entrants.
Apple's also talked with Visa about creating prepaid debit cards tied to such a new service, Recode says -- which could boost usage of Apple Pay that's been lighter than expected.
Banks that partnered in the rollout of Apple Pay may not be thrilled with Apple launching a debit card that could be "top of wallet" instead of their own, though.
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