The new Apple-developed retail payment system, Apple Pay Cash , is already in beta operation with iOS 11.1 , but only in an internal profile for Apple employees.
Apple allowed to see some videos of how Apple Pay Cash works on its YouTube channel, but was soon removed . Maybe it was launched by mistake, but it showed the details of its easy use.
If we look right now in the iOS 11.1 beta, we won’t find this function , since it is only enabled internally for Apple workers, so they can test this new feature.
With Apple Pay Cash we can send money between individuals, but only if we do so virtually will be completely free , if for the change, we want to send cash, we will have to pay a commission of 3% .
The new payment system works by simply linking a credit card in order to send money. If we want to receive cash, it will be stored in a wallet , where we can use it to buy in a shop or transfer it to our bank account.
The native application Messages , has a fundamental role in Apple Pay Cash, since it will be in charge of sending the money. A new function has been provided to the Apple messaging application.
As we can see in the image above, Apple Pay Cash will integrate with the other applications we have available in Apple Messages . Where we simply have to click on the icon and select the amount we want to send.
The future of Apple Pay Cash can be solvent thanks to its ease of use for payments between individuals. In Spain we have seen several attempts by Banks and other companies, but it did not succeed considerably because of its registration system and the need to use external applications.
Apple already registered the trademark “Apple Pay Cash” in Europe a few weeks ago, so the landing in Spain could be very close, possibly before the end of the year.
What do you think of this new payment system from Apple? Do you find it useful? Would you use it to make payments between friends or second hand purchases?