Re:Apple in Talks with US Banks to Develop Mobile Person-To-...
by MBCook on Wednesday November 11, 2015 @07:43PM
(#10550520)
I saw his question as 'why would I want an iPhone only service', so that's what I answered.
Venmo may have great market share among people using apps to pay friends. I'm suggesting the total pool of people is MUCH bigger and Apple could take a good chunk of those people, not unlike when the smartphone, tablet, MP3 player, or digital music store markets got MUCH bigger. Will they take it all? No. Probably not even 'most'. But there is still a large opportunity there.
I've never used Venmo, but I wonder if they'll survive or end up a player that was there too soon or at the start but is overtaken by the 2nd wave.
There are plenty of companies/brands that fit that model. Diamond Rio, Palm, ICQ, Blackberry...
Or maybe the banks will come in and crush this market somehow. I know many are trying (BoA, Chase, USAA), but they may not get the UX to work well or be willing to cooperate between banks.
Venmo may have great market share among people using apps to pay friends. I'm suggesting the total pool of people is MUCH bigger and Apple could take a good chunk of those people, not unlike when the smartphone, tablet, MP3 player, or digital music store markets got MUCH bigger. Will they take it all? No. Probably not even 'most'. But there is still a large opportunity there.
I've never used Venmo, but I wonder if they'll survive or end up a player that was there too soon or at the start but is overtaken by the 2nd wave.
There are plenty of companies/brands that fit that model. Diamond Rio, Palm, ICQ, Blackberry...
Or maybe the banks will come in and crush this market somehow. I know many are trying (BoA, Chase, USAA), but they may not get the UX to work well or be willing to cooperate between banks.