Apple Pay Cash, Now in Your Wallet

Apple Pay Cash has, at last, officially launched.

Apple’s peer-to-peer payments platform was first announced by the company in June, with Apple promising that users would essentially be able to text each other money. And that’s pretty much what has been delivered: The system lets users perform e-transfers directly within Messages, the digital messaging services built into Apple’s smartphone, tablet, and smartwatch devices.

The system draws funds from credit and debit cards already uploaded to Apple Pay, Apple’s digital payments platform. When e-transfers are received, they are put into a virtual Apple Pay Cash card, which is generated in the recipient’s Wallet app. That card can then be used to make purchases with Apple Pay, or the funds can be transferred to a linked bank account.

The system also features biometric security. In a statement announcing its launch, Apple emphasized that Apple Pay Cash transactions are always verified either with a face scan thanks to the iPhone X’s infrared facial recognition system, or with a fingerprint scan via Touch ID on its other devices. “Sending and receiving money from friends and family is now secure, faster and more convenient than ever with Apple Pay,” the company asserted.

Apple Pay Cash is now available as a baked-in component of iOS 11.2, and is compatible with the iPhone SE or iPhone 6 and later iPhone models, the iPad Pro and 5th generation or later iPads, the iPad mini 3 or later, the iPad Air 2, and the Apple Watch.