At a time when it seems like every space that could support an ATM already has one, Apple has filed a patent application for a network which it calls an “Ad-Hoc Cash Dispensing Network” which would compete with ATMs by providing cash to people distant from an ATM.
The July 2011 application only came to light on the U.S. Patent and Trademark Office website on Wednesday.
The patent envisions Apple acting, in effect, as a deposit taker, something it already does since it allows consumers to keep money in their consumer accounts to purchase music on iTunes and make other purchases.
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