Now, new Apple app that would turn 'every stranger into ATM'

[rhitwick]

Yep, they filed a patent too.

Apple is said to be working on a new app that lets you use nearby strangers as mobile ATMs.

According to a report, the idea for what Apple calls an 'ad-hoc cash-dispensing network', is that you launch the app and tap in how much you need.

The software uses your location details and broadcasts your request so that everyone else with the app in the vicinity is notified of your predicament.

When someone agrees to stump up the money, you are told their location, and go and pick up your cash.

Other iterations of the idea include a map in which would-be bankers are indicated with either a star to say they have accepted your request, a question mark to say that they haven't or a cross to say they have declined, the report said.

Once you've met your creditor, you confirm on your iPhone that the transfer has taken place and your iTunes account is debited, it added.

The incentive for the person who helped you is that a small service charge is taken from your account and credited to theirs, as well as the cash that you have taken.

According to the report, Apple will also take a little slice of the service charge for hooking the two of you up.

The patent describes a scenario in which 50 dollars is transferred between two parties.

Apple snaffles 5 dollars as a service fee, while the person who provided the cash nets 3 dollars.

Source

Apple, desperately trying to hold on to their monopoly. And, this would succeed only in places like USA, Singapore (which are proven Apple homeground)But, then again $16 charge per $100 is high IMO.

What do you say?

 

[furious_gamer]

I would rather use another nearest ATM, instead of giving away 16$/100$ from my money.

 

[tkin]

16% charge? I wish that company would die soon, they are

 

[rajnusker]

No comments.

 

[anirbandd]

yeah.. bleed the customers.

 

[Hrishi]

Yep, they filed a patent too.


Source

Apple, desperately trying to hold on to their monopoly. And, this would succeed only in places like USA, Singapore (which are proven Apple homeground)But, then again $16 charge per $100 is high IMO.

What do you say?

Yeah , they will. Thats the first thing they will do.

16%.!!!!!!!

 

[Nipun]

16% is high but people will still use it because OMG!!!! Itz Apple!!!!!!!!.

 

[amjath]

Well Americans will use it

 

[Desmond]

For some reason, I have a feeling that this idea is nuts.

There will be some people who will make a full scale moneylending business out of this.

 

[Gaurav265]

A new way for apple to increase their income...It is a good service but service charge may not be that high.

 

[freshseasons]

Its shouldn't even take mind to figure this out that this app is going to fall on their face. Apple maps would be even better than this service.And there is a reason why?

Imagine the scenario where the individual is just beaming online and on app store that he has cash on him.Now how safe is that dumb arse people from apple ? .

 

[Nerevarine]

^ Exactly.. haha, its like saying out loud.. i have a ton of money .. come and rob me

 

[Flash]

iRob.

iDamn.

iNsane.

 

[d6bmg]

Who will give away 16% charges+ additional charges to Apple for using this? I wonder.

 

[Gauravs90]

Who will give away 16% charges+ additional charges to Apple for using this? I wonder.

People in emergency might want to give that much amount.

 

[Tech&ME]

I think the idea is nice to garner funds from VC for small projects. But let the app appear first then will give proper comment.

 

[thetechfreak]

No idea. I don't think it will be allowed.
16% too high IMO.