Apple seeks patent on encrypted P2P money transfers; Apple Pay U.K. to launch July 14th?

Apple seeks patent on encrypted P2P money transfers; Apple Pay U.K. to launch July 14th?
A leaked internal memo from a U.K. retailer reveals that Apple Pay will debut in the region on July 14th. According to the memo, the mobile payment service will be accepted by this retailer for transactions up to $31 USD. Financial institutions like HSBC, Lloyd's and RBS have signed on, and retailers like Marks & Spencer and Boots will accept Apple Pay. Since October, Transport for London has already been allowing American tourists to use Apple Pay while traveling from London.

Speaking of Apple and financial transactions, the company has filed a patent for a person to person money transferring service that would pit the company against PayPal. Users would be able to pick a card from the Apple Wallet app, type in the amount to be transferred, select the recipient from nearby iPhone users, and use Touch ID to verify the transaction.

The entire process would use encrypted data to keep sensitive information away from any prying eyes. There is no word on when Apple plans on making this reality.

source: PatentlyApple, Forbes



1. dimas

Posts: 3358; Member since: Jul 22, 2014

I patent you, you, you, and you. And yes, also you. After the icloud picture leaks, I don't think apple pay's gonna be as trustworthy as apple want it to be positioned as before.

8. j2001m

Posts: 3061; Member since: Apr 28, 2014

You joking right, up to £20, most card including my Barclays main bank card and my paypay busness payment card comes with nfc in the card that just works at any payment gateway that will take Apple pay and I be thinking many others on top of this, why then also use Apple pay, I.e. They done nothing in the UK that you can do with your cards anyways,what a joke

9. j2001m

Posts: 3061; Member since: Apr 28, 2014

I.e. You got to take your card like shopping with you as they only do £20 Max with Apple pay So I go into Wilco for some cheap deals and just use my card using nfc I then Go to tescos and use my card with chip and pin for my main shop, so also also got an apple phone (I do not but if I did) Where does this helps me out, it does not and will take me longer to use, what a load of crap

2. waddup121 unregistered


3. RoboticEngi

Posts: 1251; Member since: Dec 03, 2014

And once again the big pathetic copycat patents stuff that's already here..........

4. spanq

Posts: 5; Member since: Jul 02, 2015

I think Paypal can do this already if i'm not mistaking.

12. jroc74

Posts: 6023; Member since: Dec 30, 2010

Yea they can. Have been for many, many years. I cant see this getting approved. Unless its very specific. Nearby users sounds like NFC use.

5. VZWuser76

Posts: 4974; Member since: Mar 04, 2010

If these companies were really interested in keeping our personal info safe, they would collaborate and come up with an industry standard rather than competing with each other to have the better solution. When they do that, they're not so much worried about our info and more about having a selling point for their product. It's no different than when AT&T, Verizon, etc. came out with Isis aka Softcard as competition for Google's Wallet. In that case they wanted to be able to claim a larger piece of each transaction than what Wallet was offering. If they want a selling point, how about doing things like offering reward points for each time you use it. Put customer safety first and then worry about how you can use it to drive sales.

6. meanestgenius

Posts: 21986; Member since: May 28, 2014

I'd like to know if Apple actually gets granted the p2p patent in the future, especially since there is at least one other company that I know of (BlackBerry) that already makes use of p2p money transfers through BBM Money.

7. TechDork

Posts: 402; Member since: May 10, 2010

I'm just waiting for them to support Credit One. Recently got my first credit card & I went to add it to Apple Pay...and they don't support Credit One....sigh.

10. j2001m

Posts: 3061; Member since: Apr 28, 2014

Please see my posts above there is no use for Apple pay in the UK at all, it does nothing as all (most) cards can do upto £20 anyways by nfc

11. j2001m

Posts: 3061; Member since: Apr 28, 2014

Also any cards that do not support nfc will also not support Apple pay from what I can see, so if you not got nfc on your card just ask your bank for a new card, I think they have to do that anyways to setup Apple pay, I.e. No need to use it, jokers

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