According to a new patent applied for at the U.S. Patent Office, Apple is looking into making a service that would allow fellow iPhone users to lend each other small amounts of money, signaling mobile payment services on iOS is still in the works.

The service would allow iPhone users to tell others in the nearby location that they need cash, add in a timeframe and location and offer a small fee. Other users could then be notified of the request, and could respond, allowing the two to meet up and do their transaction. It would require the lender to have money in their account, and once the transaction has gone through, the borrower has the money taken from their account, and it gets given to the lender (bar a small transaction fee).

Essentially this turns people into personal ATM’s. Some critics believe this system could lead to an increase in crime, as people are essentially telling others that they have a significant amount of money in their wallet. How easy would it be for someone to set up a fake borrow request, get someone to come and meet them, then rob them? It has some huge potential flaws unless safety precautions are taken seriously.