Apple could add a money transfer capability to iMessage as it looks to reach a youthful demographic and boost Apple Pay, according to Quartz.

Others, including Facebook and a number of specialist messaging apps, have already gone the same route to introduce P2P payments.

Last week, a report said Apple was in talks with leading US banks about introducing a money transfer service. Partnering with banks would mean the tech giant would not need to apply itself for money transmitter licences in the US states where it plans to operate.

Others, including PayPal and Facebook, did apply and were awarded such licences in order to launch their services.

P2P payment services are popular with a millennial demographic which, the same as everyone else, interests Apple. Also, a successful launch of such a service might give a shove in the right direction to Apple Pay, which enables mobile payments at the point of sale in locations such as shops and restaurants.

Apple Pay launched in October last year but recent reports indicate slowing growth.

iMessage might fit the bill for payments because it’s already one of the most used default apps on the iPhone, and is particularly popular with a younger demographic.