People Mobile ATM.... Apple may be working on the same. This is the latest report received about Apple's ongoing work. Not sure if its true or not but this could be a real game changer for Apple. The "ad-hoc cash-dispensing network" as termed by Apple could revolutionize the way we lend and receive money from people in a network. The application begins from a simple tap where you mention the total amount you need. As soon as the amount is defined, the software analyzes location details of the user and broadcasts request so that everyone else with the app in the vicinity is notified of your presence. Once a person has agreed to pay you the money, you are notified about the person's location where you can go and collect the cash.

Apple is also testing out the possibilities of integrating the app with a map where bankers would be given options in signs like star, question and cross so as to agree, ask or disagree respectively. Once you have found your creditor, you confirm on your iPhone that the transfer has taken place and your iTunes account is debited, it added. A small service charge as well as total cash amount is credited to the creditors account. 

Apple also takes a slice of the service charge for getting people together for a transaction. Thus, win win situation for all.

Well, I cannot wait any longer to see this app in the market. Surely...could be revolutionary and  right answer for those who say Apple lacks innovation..!!