Apple presented Apple Pay Cash in the last WWDC 2017 when it showed us the news of iOS 11, and announced it for the end of this year. After the improvised launch of iOS 11.2 last Saturday forced by a bug with iOS 11.1.2 that repeatedly restarted the iPhone, Apple's peer-to-peer payment service has already seen the light today.
Apple Pay Cash will allow payment between individuals using the Apple Messages application. In a way as simple as using a messaging application, we can make payments between individuals completely free of charge and accumulate the money on our iPhone or transfer it to our checking account in a very simple way. But at the moment Apple Pay Cash is only available in the United States and you must meet the following requirements to use it. We give you the details below.
Requirements
- A device compatible with Apple Pay and with iOS 11.2 or later
- Two-factor authentication enabled on your Apple account.
- A credit or debit card in Wallet.
- For now, reside in the United States so that the option appears in Messages
Procedure
The procedure both to send and to receive money through Apple Pay Cash is very simple, as you can see in the video that Apple itself has published showing us all the steps to do so. Once the money is received for the first time, we will have up to 7 days to accept it. This will only happen the first time we do it, then the money will automatically go to our "virtual card" inside our iPhone that we can use to make payments through Apple Pay. There is no type of commission, only in the case of payments by credit card, which will be 3% as it usually happens in all this type of operations. We can only wait for it to spread outside the United States.