Apple confirmed in a post today that along with a future update to iOS 11 and watchOS 4, users will be able to send and receive money instantly with Apple Pay, and it'll be as easy as sending a message or saying a few words to Siri. There won't even be an additional app to download — person-to-person Apple Pay will use the cards you already have in your Wallet.
All users will have to do to send some cash is open iMessage, tap the App Store icon, and find Apple Pay in the app drawer. After that they can set the amount of money to send and select which card in their Wallet the money will come from, then authenticate the payment with Touch ID or Face ID, depending on which iPhone model they have. Users can also ask Siri to send money to a contact.
After that, the money will appear in the recipient's Wallet on their Apple Pay Cash card. Then they can use it instantly to buy anything from a bubble tea to an Uber ride. Or, if they'd prefer, they can transfer it to their bank account. And best of all, if you're using a debit card, this whole process is totally free. The only time it'll cost you is if you use a credit card: according to Recode, you'll be charged a 3% fee, which is standard across all peer-to-peer payment apps.
Unfortunately, person-to-person Apple Pay will only be available in the U.S. upon its release. Hopefully they'll be able to roll out the feature in other countries soon, but as of right now Apple hasn't announced any concrete plans.
Thoughts? Questions?
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