Apple Pay Cash Now Available with Latest iOS Update

Yolanda Curtis
December 8, 2017

To add money to your Apple Pay Cash balance, you can either wait for people to send you money through the service, or add funds yourself using a debit card.

Apple debuted Apple Pay Cash with the iOS 11.2 update last Wednesday, Dec. 5. Keep in mind that using a credit card is subject to a 3% fee when sending money through Apple Pay Cash.

Within a 7-day period, you can add a maximum of $10,000.

But Apple Pay cash also supports purchases at stores, online and within apps, which could be a big deal to banks that reportedly are required to pay Apple up to 15 basis points for credit card transactions, and 1 cent for debit transactions, according to some analysts. And with any of them, you can make and receive payments from a web browser-not so with Apple Pay Cash.

If the recipient doesn't have an iOS device or doesn't meet the above requirements, you'll get a message that says they can not receive payments using Apple Pay. When you're ready to send the money, tap on "Pay".


WatchOS 4.0.1 can be downloaded through the dedicated Apple Watch app on the iPhone by going to General Software Update. In addition to that, Venmo, our Editors' Choice payment app, offers a richer slate of payment options. You then confirm the payment with your face, fingerprint, or passcode.

If you don't have a debit card linked to Apple Pay Cash, you'll get a pop-up that says "Unable to Add Money", and you'll tap on "Add Card" to link a debit card.

Getting in a bit late on Facebook Messenger, Google Wallet, and PayPal's action, Apple Pay Cash is the latest peer-to-peer payment system from a tech giant.

Once the payment has been sent to the recipient, it will be marked as "Pending" until it is accepted by the recipient.

You'll find more Apple Pay instructions from Apple.


"Through the business model Apple has built, banks have paid the freight for building Apple Pay, and with now Apple is powering merchant transactions through a pathway that essentially cuts banks out of the equation when Apple Pay Cash is used to pay merchants directly", said Richard Crone, a principal with Crone Consulting. It takes you through the basics step-by-step, so you'll know exactly what to do in just over a minute.

At the merchant level, the Apple Pay Cash Card is issued on the Discover Network, which means users may only make purchases at retailers that accept both Apple Pay and Discover debit contactless transactions. You can use that money to send to other people through iMessage, just like we showed you above, but that's just the tip of the iceberg.

Once activated, an Apple Pay Cash card will appear in Wallet and you'll be able to access Apple Pay Cash in the Wallet app.

You'll have to enter your bank account information, including your routing and account numbers, to link Apple Pay Cash to your bank account.


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