Apple is in talks with banks to develop a new payment service to allow an iPhone user to send money to another iPhone user, most likely bypassing Visa and MasterCard by working directly with banks. The talks are at an early stage and no one involved would comment on the evolution of the plan. But multiple sources confirm Apple’s talks with the country’s largest banks and that the company is serious about moving forward. Unknown is whether credit card companies are engaging Apple or waiting for the company to contact them. Continue reading Apple in Talks with Banks About New Money-Transfer System