Apple Pay Gaining Person-to-Person Payments Within Messages in iOS 11

Apple Pay will soon get a person-to-person payments feature within Messages in iOS 11, allowing users to send money to friends and family members directly within a text conversation.


Apple said that when users get paid, they will receive money in a new "Apple Pay Cash" account, which they can then use instantly to make a purchase using Apple Pay in stores or online, send as a payment to someone else, or transfer it from Apple Pay Cash to their bank account.



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20 months ago
guranteed only in the US
Rating: 1 Votes
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20 months ago

It will presumably include a % fee to Apple for every transaction?

If you can use credit cards, via Apple Pay, then there's a credit card interchange fee to be paid by someone. That's how we get air miles etc with credit cards.

Retailers often pay this. Some add it on, like online airline booking, with their 'credit card fees' at the end.

If there is no fee in this person-to-person pay method, then it becomes the greatest ever 'manufactured spend' mechanism to build air miles..

I'm going to assume credit cards will be either omitted or fee levied. If they manage to make debits cards free or free up to a certain amount of income (in order to prevent money laundering) then this is huge. Samsung Pay and Android Pay will soon gain P2P payments as well, which will soon put Paypal on the back foot.
Please let this be a UK release as well.
Rating: 1 Votes
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20 months ago
This is nice ! Now you can pay garage sales via Apple Pay .

So I bet square for Apple is now basically worthless for newer phones?
Rating: 1 Votes
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20 months ago

This is nice ! Now you can pay garage sales via Apple Pay .

So I bet square for Apple is now basically worthless for newer phones?

I was thinking this could be huge for food trucks just as long as the fee schedule is reasonable.
Rating: 1 Votes
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20 months ago
Confirmed as US only.
Rating: 1 Votes
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20 months ago

It will presumably include a % fee to Apple for every transaction?

If you can use credit cards, via Apple Pay, then there's a credit card interchange fee to be paid by someone. That's how we get air miles etc with credit cards.

They said that when you receive money it goes onto a (presumably virtual) "Apple (something, cash?) Card", and then you can transfer it from there to a bank card, if you want - presumably there may be a transaction fee for transferring, unclear who will pay. I'm guessing they may expect that the interest they get off the money people leave in Apple's hands, day-to-day, will cover the transaction fees for sending it to a bank. If a million people each end up with $5 left on their "card", that they keep there expecting to eventually transfer on to someone else, that's $5 million for Apple to collect interest on. And it'll probably end up being much more than $5 million in their float account.
Rating: 1 Votes
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20 months ago
I hope that app drawer can be hidden. I don't want that wasting screen real estate all the time when using messages. :(
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