The new iOS 11 operating system is coming later today, and it will bring a plethora of new features to the iPhone and iPad. Apple has now revealed that its new Apple Pay Cash feature is coming to iOS 11 in a future update.
The feature will apparently be available in iOS 11 and also watchOS 4 at a later date, and the feature will not be available today when iOS 11 is released.
What is Apple Pay Cash?
Apple Pay Cash is a new feature that allows users to send and receive money directly through the Messages app or by asking Siri. This feature is designed to make peer-to-peer payments more convenient and secure. Users can send money to friends and family using the credit and debit cards they have stored in their Apple Wallet. When users receive money, it is added to their Apple Pay Cash card in their Apple Wallet, which can then be used for purchases or transferred to a bank account.
Coming this fall with an update to iOS 11 and watchOS 4, Apple Pay users will be able to send and receive money from friends and family quickly, easily, and securely. Pay and get paid right in Messages, or tell Siri to pay someone, using the credit and debit cards they have in Wallet. When users get paid, they receive the money in their new Apple Pay Cash card in Apple Wallet and can use the money instantly.
How Does Apple Pay Cash Work?
Apple Pay Cash works seamlessly within the Apple ecosystem. To send money, users simply open a conversation in the Messages app, tap the Apple Pay button, enter the amount, and authenticate the transaction using Face ID, Touch ID, or a secure passcode. The recipient will receive a notification and the money will be added to their Apple Pay Cash card.
For those who prefer voice commands, Siri can also handle transactions. Users can say something like, “Hey Siri, send $20 to John,” and Siri will guide them through the process.
The Apple Pay Cash card functions like a prepaid debit card. Users can use the balance to make purchases in stores, online, or within apps that accept Apple Pay. Additionally, users can transfer the balance to their bank account, providing flexibility in how they manage their funds.
Security and Privacy
Apple has emphasized the security and privacy of Apple Pay Cash. Each transaction requires authentication through Face ID, Touch ID, or a secure passcode, ensuring that only the authorized user can send or receive money. Additionally, Apple does not store transaction information that can be tied back to the user, maintaining a high level of privacy.
Availability and Future Updates
As yet, there are no details on exactly when the new Apple Pay Cash feature will be available on Apple’s iOS devices. Apple has stated that the feature will be coming in a future update to iOS 11 and watchOS 4, but no specific release date has been provided. As soon as we get more details, we will let you guys know.
The introduction of Apple Pay Cash is part of Apple’s broader strategy to enhance its ecosystem and provide users with more integrated and convenient financial services. With the increasing popularity of peer-to-peer payment apps like Venmo and PayPal, Apple Pay Cash positions Apple to compete in this growing market.
Source Apple, MacRumors, Techmeme
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