Digital payments were forecast to rise 14% to $3.9 trillion for the same period, the researcher said. It seems all the tech companies are trying their hardest to replace cash. As we pointed out yesterday, that was because the service was not yet live. Today, we embrace money’s intangibility as pixels on a screen.
Currently, Apple Pay Cash is only available in the U.S., but it appears that the early release of iOS 11.2 hindered the full rollout of Apple’s new payment system.
While our American neighbours have all the fun with Apple Pay Cash, Canadians can only dream of the feature landing here. Here you need to provide your legal name, last four digits of your SNN, date of birth and a photo of your Identity proof like driver’s license or state ID card.
So how does Apple Pay Cash work?
On Monday, the company launched Apple Pay Cash. Apple isn’t standing still as competitors ramp up mobile pay efforts of their own.
But on Monday morning, many (but not all) users began seeing the Apple Pay Cash option on their iOS devices. The new iOS platform is available for all the compatible iPhone, iPad and iPod touch devices running iOS 11.
So, if you want to split that bar bill or contribute your part to a gift for an office colleague, Apple Pay users can direct the service to deduct a set amount of cash from their accounts and send it to the recipient. Sending and receiving money from friends and family is now secure, faster and more convenient than ever with Apple Pay.
When entering your bank account information, you need to input your account number and routing number so that you can link your Pay Cash account to your bank account.
Debit card transactions are free, while credit card transfers incur a small fee. Once users installed it, however, Apple Pay Cash was nowhere to be seen.