After months of anticipation, Apple Pay Cash has finally been introduced in America as a beta version. This latest feature includes the latest developer preview and will be open to the public in America through iOS 11.2 and watchOS 4.2.
First unveiled in June along iOS 11, Apple Pay Cash’s launch was postponed in September for an upcoming iOS and watchOS update.
Now available in beta versions of these operating systems, it uses the Apple Pay service to let iOS users transfer payments directly through an iMessage.
The feature works the iPhone SE, iPhone 6 and above, iPad Pro, iPad (5th generation), iPad Air 2, iPad mini 3 and above, and all Apple Watch variations.
If you’re in America, you need to set up Apple Pay on your iOS 11.2 or watchOS 4.2 beta running device, to begin with, Apple Pay Cash.
Your Apple ID must have two-factor authentication, and the feature uses your passcode, Touch ID, or Face ID to allow you to start share money safely with your contacts.
Furthermore, as soon as the setup is complete, you can use Siri or the small screen of your Apple Watch to allow cash-less transactions.
Your compatible Apple device doesn’t require any third-party application as Apple Pay Cash is available as a built-in feature within the native Messages app.
The feature uses the debit and credit cards from your Apple Pay or Wallet. A virtual Apple Cash card will be issued to you once you set up the feature to pay online or offline directly via Apple Pay.
Funds once received through Apple Pay Cash can be transferred to your bank. It is worth noting that while debit card transfers using Apple Pay Cash are free, transfers using credit card charges a nominal fee of three percent.
Essentially, the existing model of Apple Pay Cash seems to expand the use cases of Apple Pay to some extent. It works similarly to what applications like Facebook Messenger and Snapchat have been featuring for a long time.
However, as TechCrunch records, Apple has some programs to tell apart from its feature in the arriving future. The Cupertino company has recently started dealing with prepaid debit card company Green Dot Company to provide Apple Pay Cash a broader financial presence.
There is no word on the launch of Apple Pay Cash in markets besides the US. Yet, if we believe what Apple’s SVP Eddy Cue reportedly stated last month, it could come to India alongside the Apple Pay launch soon.