The service for technology company juggernaut, Apple, has arrived in the form of Apple Pay Cash, which is currently in the beta testing phase. The app allows users to send out payments, as well as receive them through iMessage. This could possibly bring forth a new age when it comes to digital means of transacting.
In a report by 9TO5Mac, the Apple Pay Cash app will be made available upon the release of the iOS 11.2 as well as the watchOS 4.2. As of now, those who have access to the app are official developers as well as public testers. For those who are interested in trying the app, an Apple Pay account is required to set up by users and details should be filled out. Currently, the beta version of the app is only available to people in the U.S.
The Apple Pay Cash is compatible for certain Apple products such as the iPhone SE, iPhone 6 or later, iPad Pro, the fifth generation iPad, iPad Air 2, iPad mini 3 or later, and Apple Watch. According to Engadget, users will be able to make debit card transactions for free as they use the app. However, those who use credit cards will have to pay a small fee per transactions that is percentage based. There is no set standard yet with regards to the deduction.
Given the features, it seems that Apple has also thought out the security for the potentially sensitive app. As reported by Tech Crunch, there will be a two-factor authentication with Apple ID that is needed for making transactions via Apple Pay Cash. This ensures consumers that their digital debit is protected, but details of which are still scarce due to the services early stages. It is not yet clear if it is possible for identity thefts to eventually be able to bypass this.
