TransferWise Now Supports Apple Pay For U.S. Dollar Transfers

[MacRumors]

TransferWise has updated its iPhone and iPad app this week with Apple Pay support for U.S. dollar transfers.

Now, users can simply add a debit or credit card to the Wallet app and select it as a payment method in the TransferWise app.

TransferWise said Apple Pay integration is also being rolled out in Australia, Switzerland, France, Spain, Ireland, and Italy, according to Reuters. Apple Pay is already supported for British pound transfers.

TransferWise is a London-based startup that provides foreign currency exchange using real mid-market rates. It charges a transfer fee of 0.5 to 1.5 percent for most currencies, which is often significantly cheaper than banks.

TransferWise version 3.1.2 is available as a free update on the App Store [Direct Link] for iPhone and iPad.

Article Link: TransferWise Now Supports Apple Pay For U.S. Dollar Transfers

 

[ignatius345]

As bitcoin and other cryptocurrencies expand, they're going to kill this remittances business dead.

 

[tmiw]

As bitcoin and other cryptocurrencies expand, they're going to kill this remittances business dead.

Bitcoin has been around for quite a long time now yet it still doesn't seem to be used all that much. It also doesn't help that it's fairly difficult to use (IMO, anyway).

 

[ignatius345]

Bitcoin has been around for quite a long time now yet it still doesn't seem to be used all that much. It also doesn't help that it's fairly difficult to use (IMO, anyway).

So far, yeah, and fees are too high for normal day-to-day transactions -- but they're not based on percentage, so for larger transactions it starts to make a lot more sense. Bitcoin (and the other cryptocurrencies) are starting to gain traction though.

 

[zooby]

As bitcoin and other cryptocurrencies expand, they're going to kill this remittances business dead.

Completely disagree. Most remittances are sent from migrants workers to their loved ones back home and that consumer likes easy + understandable transactions.

 

[ignatius345]

Completely disagree. Most remittances are sent from migrants workers to their loved ones back home and that consumer likes easy + understandable transactions.

At the present, you're totally correct, but these folks are also very sensitive to fees, and as crypocurrencies become easier to use and spend, it's hard not to see them taking a bigger bite out of the industry.

Venezuela is a special case, but this article on Forbes was interesting:
https://www.forbes.com/sites/realsp...sis-is-a-case-study-for-bitcoin/#6e268ffa19b2