[ MUSIC ] Hello, and welcome to Tech Debate, the show where we debate the issues of the day in two minutes. Today, we are talking about Apple's new feature that allows you to send cash to your friends via text message. It's gonna be amazing. Jeff, what do you think? Apple Pay Cash, this is pretty cool actually. I'll give them that. You can just, instead of just texting someone, you can send them money when they're doing it. Good on Apple, cool idea, but I don't think it's really gonna catch on. You don't think it's gonna catch on? This seems amazing, most people have an iPhone, a lot of people have iMessage Making this seamless transition from Apple Pay into text message is going to really catch, it's gonna be a big deal. I think what the hardcore Apple fanboys are going to like, Apple always has some products that no matter how obscure it is people use the big fanboys. But everyone's using Venmo already, Venmo is a great product. I use Venmo, you use Venmo, why should we switch? So, Apple Pay, already a leader in mobile payments. I think their space is, granted they don't have the leadership in this space but I think there is room for more than player. Look at China, they have WePay, WeChat, and Alipay. Two players Both with a lot of market share, they're both doing great. You can have more than one company here. No, I think it's a network effect thing. And the other thing, here's another word for you, Venmo and Android. Android people are people, too. How are we gonna pay our friends if they have Android? Venmo. That's a great question. Maybe in that case we'll use Venmo, or maybe we'll just use cash. But I think when Apple introduced Apple Pay they said that they wanted to destroy the wallet. This is gonna be part of an integrated system where not only can you pay vendors, 50 % of vendors take, Apply Pay, you can also pay your friends, it's gonna be a one- stop shop and that's gonna give Apple a competitive edge. Apple's been dabbling in payments for years and years, and it's always a little bit so it's like this deep. I don't think this is gonna be a game changer. Let's make a bet And if I lose, I'll Venmo you. [ LAUGH ] All right. Deal. [ NOISE ] Fair enough. [ NOISE ] And that is unfortunately all the time we have, tune in next time to Fortune. com for more tech debate. [ MUSIC ] [ BLANK_AUDIO ]

Apple Pay Cash Is Cool, But It Won’t Catch on