In a bid to potentially boost its Services business and strengthen its ecosystem, Apple may further strengthen its role in mobile payments, potentially going after Venmo in the process. According to a report in Re/Code, Apple may look at having a money-transfer service which would allow iPhone users to send money to other iPhone users. If Apple were to come up with its own Venmo-like offering, it could help boost the Service business but it's likely more about keeping its users entrenched with Apple, experts say. CEO Timothy D. Cook has talked about payments in high regards on several of the company's earnings calls, but much of the context has been in regards to Apple Pay, its existing mobile payments offering. Venmo helped PayPal, which owns the money transferring service, report strong first-quarter results.

Source: Fox News April 27, 2017 16:07 UTC