Obopay Inc. today launched an application for Apple Inc.'s iPhone that enables consumers to initiate person-to-person payments, according to the Redwood, Calif.-based mobile-payment provider. Users can send funds to other consumers with U.S. phone numbers using the application, known as Obopay Mobile Payments. Users also can view transaction histories, request funds from contacts and deposit funds they receive into their bank accounts automatically, according to Obopay. The application is free to download, and consumers do not pay to sign up for the service, access account information or receive funds. The cost to send funds starts at 25 cents per transaction, according to Obopay. "P2P payments on a mobile device regardless of vendor is probably more clunky than using cash," says Nick Holland, a senior analyst at Boston-based consulting firm Aite Group LLC. "From an end-user perspective, a retail banking customer or iPhone user, it is just another app." Obopay did not return requests for more details by CardLine deadline.