We might finally be able to do what folks in Kenya and India have been doing for years now: send money to each other without hefty fees or writing a check.
This week, Apple hinted at a new payment system that would allow peer-to-peer transfer.  This could be a game changer for payments in America, and far more innovative than Apple Pay.
While mobile money seems to be the future of ‘fintech’ and brick-and-mortar banks are quickly becoming relics (Bank of America announced this year that it will be shutting down more branches in 2016), is the finance sector finally becoming more democratic, inventive, and inclusive, perhaps even poised for radical change?
It depends on where in the world you’re sitting.  
The US might want to take a lesson or two from emerging markets like India and Africa when it comes to defining a bank, and whizzing cash back and forth.  We’re not as cutting-edge as we think we might be.   Apple’s foray into peer-to-peer payments could finally change that– or perhaps we’re just late to the party.

from Forbes – Tech http://ift.tt/1H207UP
via IFTTT