Apple considers the possibility of creating a money transfer service that will allow financial transactions using iPhone and iPad. The service will operate similar to the addition of Venmo, owned by PayPal.

According to Recode, representatives of the “apple” of the company has consulted with several representatives of the financial sector about the creation of this product.

If this information is confirmed, Apple will release a service that will allow owners of proprietary devices to transfer funds to each other. According to sources, the company can announce the launch on this year.

Note that in 2015 Apple has been negotiating about developing such a program, but then the project has been delayed.

The source stressed that the competition in this market is very high, with most of the available services are unprofitable for businesses owners.

In Apple this information wasn’t commented.