Sources speaking with Recode reiterated today that Apple is still planning to debut its own money-transfer service akin to PayPal's Venmo that could launch later this year. Tentatively named Apple Cash, the peer-to-peer service would zap payments from users' checking accounts to recipients through their Apple devices, basically allowing iPhone owners to send cash to friends and family members digitally.
The Cupertino giant could partner with Visa on a system that would let users obtain virtual Apple-branded prepaid cards. Running on Visa's debit network, those digital cards could be tied directly into the firm's rumored peer-to-peer thing.
Moreover, users would be permitted to register them with Apple Pay to use when making credit-card and debit-card payments in stores with their Apple devices. The card number could also be used to make purchases on websites and in apps.