[eiopa]

there is a huge difference in what they can bring to the table in vendor vs p2p plays.

p2p will presumingly work almost exactly like venmo, or more accurately, iMessage. Not only are they not bringing anything new to the table, they are also not leveraging anything from them controlling the hw+sw, other than being preinstalled.

A vendor play is much more interesting, since this is where they can really shine (completing a transaction without ever unlocking your phone or typing anything).