Apple is in talks with US banks about its plans to develop a mobile person-to-person payments service, CNBC reports. JPMorgan Chase, Capital One, Wells Fargo and US Bancorp are said to be involved in the talks. There is some speculation that the banks may be reluctant to work with Apple on another payment application after the poor take-up of Apple Pay. PayPal has completed its acquisition of international remittance provider Xoom. In a media release confirming the deal, PayPal said it would gain access to 1.5 million active US customers who sent approximately US$7.1 billion in the year to 30 September 2015 to people in 40 countries via mobile phone, tablet or computer. Xoom, which claims 97 per cent of its payment volume comes from repeat users, will operate as a separate service within PayPal under the continued leadership of John Kunze, who will report to PayPal CEO Dan Schulman.