Pay Cash is linked with Apple Pay, a payment service that lets users shop and pay bills using the iPhone, Apple Watch-compatible devices, iPad, and Mac. Millennials use mobile peer-to-peer payments services and apps to split the cost of everything from a night out to more substantial costs, such as rent. You can send money from the debit or credit card stored in Apple Wallet, and it will be deposited into the recipient's Apple Pay Cash account, which is a new digital debit card. Aside from being able to send and receive money on the chat app, you will also be able to spend the balance via a virtual Apple Pay card, TechCrunch reports. Apple Pay is a strong competitor of Samsung Pay, Android Pay, and Ali Pay. He said that the service will be available at 50% of retailers within the United States by the end of the year. Apple, on the other hand, has been slow to enable the feature on its Apple Pay service, despite the 375 million users who have access to the app. While numerous rumored iOS 11 features we were excited about failed to make an appearance - there's no Dark Mode option, for instance - we did see a number of new features that should make the iOS user experience much more useful and intuitive. In fact, in the first quarter of 2017, Venmo processed $6.8 billion worth of transactions, which is twice the amount recorded in the same period past year.
Apple Pay continues to expand to new territories since launch, and integrating it into iMessage is one of the shrewdest decisions taken by Apple.
This feature will allow users to send and transfer money via text.(NASDAQ:AAPL), said that Pay Cash will let users send money directly to their contacts using the tech giant's popular messaging app, iMessage.
Apple might seem a bit late to this smartphone payment game, especially when considering it still won't officially enter the space until the fall. As always, feel free to sound off in the comments section below!