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As Apple upgrades its payments offering, do UK P2P startups stand a chance?

iPhone Apple payments

If you own an Apple device, you’ll soon be able to send and receive money from friends and family within Apple Pay.

The technology giant recently announced the news at WWDC, its annual developer conference, which is taking place in California and due to finish tomorrow. The feature will be integrated directly into iMessage and will use Touch ID to ensure transactions are made securely. Once the funds have been sent, they will go into an Apple Pay cash card, enabling users to send the card to friends or family, or transfer them directly into their bank account.

Unsurprisingly, Apple’s announcement made headlines across the globe, but many other companies have been innovating in the peer-to-peer (P2P) payments arena for some time. The one thing Apple does have, however, is a solid – some would say cult-like – following, having sold its billionth iOs device in late 2014. ...

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