Apple has published an update for Apple iPhones and Apple Watches with iOS 11.2 and watchOS 4.2. These updates not only fix the bugs, but they also introduce the much anticipated Apple Pay Cash in the United States. So, if you have iPhone (basically any iPhone that launched after iPhone 6 has the necessary hardware), then update the software on the device to iOS 11.2 and if you own an Apple Watch (any edition), then update the same via iPhone to the latest watchOS 4.2 to enjoy the same.
First, let us learn what is Apple Pay Cash?
Apple Pay Cash is an improvised version of original Apple Pay, which basically works as a virtual wallet. Until this update, users were only able to send the money to the Apple Pay supported channels, now, an Apple Pay user can send the money to an another Apple pay user from $1 to $3000. So, send money to your partner or the friend in need is now a second away. The send money will be directly credited into your bank account if you have a debit card no charge will be levied on the transaction, but if you want to transfer the same to a credit card, then one has to pay 3 percent commision and the transfer will be instantaneous.
Before doing anything of this sort, one has to verify the identity to enable the Apple Pay cash. This includes verifying your first name and last name (should match the bank details and social security number) and date of birth. Apple will verify the given details on your SSN (social security number) and then you are good to go.
How to use Apple Pay Cash?
There are basically two methods to send the money. One can send it directly via Apple Pay app by typing required amount. However, the fascinating way to do this is from the messenger app. Not only one can send the money, but, one can also request the money using the iMessenger.
To do this select Apple Pay from the options menu and type in the amount. To authenticate the transaction, one need to use Face ID on the Apple iPhone X and Touch ID on the remaining models which offer Apple iPhone support (Apple iPhone 8 Plus, Apple iPhone 8, Apple iPhone 7 Plus, Apple iPhone 7, Apple iPhone 6s Plus, Apple iPhone 6S, Apple iPhone SE, Apple iPhone 6 Plus, Apple iPhone 6). Bam, if you have enough balance on your bank account just in a blink of an eye the payment will reach the receiver.
We think that this is the coolest way to send and receive money ever. Love you Apple for making our lives simpler than ever before.