Apple Pay Cash Allows Person-to-Person Payments From Apple Devices

Mindy Sparks
December 7, 2017

According to George, because Apple Pay is part of the OS, the device would need to be wiped and restored in order to get the app back. When new users receive money for the first time, it's simply added to their new Apple Pay Cash card once they accept the terms.

Apple has rolled out the official watchOS 4.2 update for all its Watch models. But Apple has the huge advantage of already having millions of people who use Messages and who also have already stored their credit and debit cards on their iPhones. It's become a must-have app for millennials, and as we can see in this chart from Statista, the amount of money sent through it has soared since 2015. Both parties to an Apple Pay Cash transaction must have the feature enabled on their iPhone or Apple Watch.

In follow up to the news reported earlier this week that Apple has launched its own P2P service (Apple Pay Cash), more details are emerging about how it actually works and the providers involved.

Apple Pay Cash's person-to-person payment feature is available to users that are at least 18 years old.

Users who want to add funds from a debit card or prepaid card can add a minimum of $10 on the Apple Pay Cash card per transaction and a maximum of $3,000.

Users will have full control and insights into their account and can view their transaction history for all transfers and purchases in their Apple Wallet.

When it comes to sending and receiving money on iMessage, the minimum amount is $1 per message, while the maximum is $3,000. Within a seven-day period, users can send or receive a maximum of $10,000. For example, the maximum balance on an Apple Pay Cash card users can have after verifying their identity is $20,000.

The minimum amount of money that can be added to an account from a user's U.S. debit card or prepaid card is $10 per transaction, while the maximum that can be added in each transaction is $3,000. In a 7-day timeframe, users can add up to $10,000.

Other reports by Iphone Fresh

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