Apple Pay Cash - How's it going to work?

[LarryJoe33]

Whenever it does come out, how do you think it will work? Specifically, will you have to have a bank account in Apple Pay (vs. Credit Cards) or a Debit Card? Somehow it has to get to your bank (similar to PayPal, Venmo, Zelle).

Thoughts?

 

[Chazzle]

Whenever it does come out, how do you think it will work? Specifically, will you have to have a bank account in Apple Pay (vs. Credit Cards) or a Debit Card? Somehow it has to get to your bank (similar to PayPal, Venmo, Zelle).

Thoughts?

It works as a cash card. You can transfer cash to and from that Apple cash card from your bank.

 

[LarryJoe33]

It works as a cash card. You can transfer cash to and from that Apple cash card from your bank.

So you link this future "Apple Cash Card" to your bank?

 

[Chazzle]

So you link this future "Apple Cash Card" to your bank?

Yes, it’s just like PayPal (I know PayPal can do this differently) and all those really. The card is just a holding spot for the $$. This is so you’re not constantly making withdrawals and deposits out of your bank

 

[gwhizkids]

i am really looking forward to this. Just apply a larger sum of money to this "card" and no more recording every use of Apple Pay for minor items in your check register!

PayPal must be really worried about this, as they've up their advertising of their similar service on TV.

 

[LarryJoe33]

i am really looking forward to this. Just apply a larger sum of money to this "card" and no more recording every use of Apple Pay for minor items in your check register!

PayPal must be really worried about this, as they've up their advertising of their similar service on TV.

I have been a PayPal member since it's inception and I am so down on what it has become. Especially since they got bought by eBay and are in bed together on fees. I am also down on eBay. I hope they both fail.

 

[gsmornot]

I have been a PayPal member since it's inception and I am so down on what it has become. Especially since they got bought by eBay and are in bed together on fees. I am also down on eBay. I hope they both fail.

They split a few years ago to improve earnings. None the less, ready for iMessage Apple Pay.

 

[magicMac]

I think when you send it to your bank it will do something like a “VISA credit” , which will put money onto a debit card (like a refund in a shop). Technically they could make Apple Pay person to person transactions do this directly without their intermediary cash/prepaid card but I’m sure Apple want to benefit from the small amount of interest from holding those funds.

 

[lolkthxbai]

the way it’ll work is that you request a virtual apple pay cash card by uploading your photo ID to green dot bank and once approved you send and receive money from within imessage. to send or receive money you simply send an imessage with the dollar amount such as “$28” and it will turn into a smart link. tap on the link and the apple p2p imessage app will appear ready to send the money. you can use any card on apple pay to send money. you can also just manually open the imessage app within a conversation to send or request money.

 

[CaptMarvel]

the way it’ll work is that you request a virtual apple pay cash card by uploading your photo ID to green dot bank and once approved you send and receive money from within imessage. to send or receive money you simply send an imessage with the dollar amount such as “$28” and it will turn into a smart link. tap on the link and the apple p2p imessage app will appear ready to send the money. you can use any card on apple pay to send money. you can also just manually open the imessage app within a conversation to send or request money.

Sources?

 

[Feenician]

Can you just have it directly debit your bank account without having a balance on it? I don’t really want to do things in two steps but I do want the peer to peer payment thing.

 

[lolkthxbai]

Sources?

We know about the Photo ID check from the source code leak prior to the event.
We can also deduce how payments can be sent or requested from the short preview video posted on the ios 11 page, https://www.apple.com/ios/ios-11/

Also, on the same webpage you can see on the bottom there’s a footnote. #2 explains that additional verification may be necessary to open an apple cash card
Furthermore, below all the numbered footnotes is a disclaimer that the bank that handles the apple cash card is green dot bank.
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Can you just have it directly debit your bank account without having a balance on it? I don’t really want to do things in two steps but I do want the peer to peer payment thing.

you mean debit your existing account to send money? yes, the preview video on the ios 11 website shows you can.

 

[BuddyTronic]

Whenever it does come out, how do you think it will work? Specifically, will you have to have a bank account in Apple Pay (vs. Credit Cards) or a Debit Card? Somehow it has to get to your bank (similar to PayPal, Venmo, Zelle).

Thoughts?

https://applepaycash.greendot.com/termsconditions/

 

[LarryJoe33]

Interesting. I just set it up. It looks like it’s backed by Discover. It creates an Apple Pay Cash Card in Wallet and you have to add money to it to send money. It appears you can only add money through a debit card that is in your wallet. In addition you can transfer to bank funds received by adding your actual bank account info.

On the surface, I guess I would like to see it automatically take from my debit bank card (like PayPal) without having to go through the step of adding funds. It may be more seamless when I actually try this from Messages.

 

[Cscottrun]

Question...I just set it up. I had and still have Apple Pay linked to my credit card. However, if I am sending money to a friend (like how I do with venmo) using Apple Pay, I want it to debit my debit card (to avoid the fee for using a credit card). Will it automatically default to my debit card when using Apple Pay for payments to individuals through iMessage, or will I have to switch it off of my credit card every time.

TLDR: MY default payment using Apple pay is my credit card. Does it automaticlly know to process merchant apple pay payments using my credit card and payments via iMessage to individuals using my debit card?

 

[jhall8]

Question...I just set it up. I had and still have Apple Pay linked to my credit card. However, if I am sending money to a friend (like how I do with venmo) using Apple Pay, I want it to debit my debit card (to avoid the fee for using a credit card). Will it automatically default to my debit card when using Apple Pay for payments to individuals through iMessage, or will I have to switch it off of my credit card every time.

TLDR: MY default payment using Apple pay is my credit card. Does it automaticlly know to process merchant apple pay payments using my credit card and payments via iMessage to individuals using my debit card?

Before making a payment using Apple Pay, set the card that you want to use in the Wallet app by touching and moving the cards.

 

[LarryJoe33]

Question...I just set it up. I had and still have Apple Pay linked to my credit card. However, if I am sending money to a friend (like how I do with venmo) using Apple Pay, I want it to debit my debit card (to avoid the fee for using a credit card). Will it automatically default to my debit card when using Apple Pay for payments to individuals through iMessage, or will I have to switch it off of my credit card every time.

TLDR: MY default payment using Apple pay is my credit card. Does it automaticlly know to process merchant apple pay payments using my credit card and payments via iMessage to individuals using my debit card?

My limited messing around with it this morning appeared to default to my debit card, but reading your post, my debit card is my default Apple Pay method, so I don't know if the default shows up and in your case would be a credit card?

Try "Adding" to the Apple Pay Cash card. You can cancel after seeing what options it gives you to transfer funds.
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Before making a payment using Apple Pay, set the card that you want to use in the Wallet app by touching and moving the cards.

We are talking about the new Apple Pay Cash feature where you can transfer money to someone via Messages.

 

[Chazzle]

Interesting. I just set it up. It looks like it’s backed by Discover. It creates an Apple Pay Cash Card in Wallet and you have to add money to it to send money. It appears you can only add money through a debit card that is in your wallet. In addition you can transfer to bank funds received by adding your actual bank account info.

On the surface, I guess I would like to see it automatically take from my debit bank card (like PayPal) without having to go through the step of adding funds. It may be more seamless when I actually try this from Messages.

Question...I just set it up. I had and still have Apple Pay linked to my credit card. However, if I am sending money to a friend (like how I do with venmo) using Apple Pay, I want it to debit my debit card (to avoid the fee for using a credit card). Will it automatically default to my debit card when using Apple Pay for payments to individuals through iMessage, or will I have to switch it off of my credit card every time.

TLDR: MY default payment using Apple pay is my credit card. Does it automaticlly know to process merchant apple pay payments using my credit card and payments via iMessage to individuals using my debit card?

Okay, after a little research, I've got some answers.

@LarryJoe33, you do not have to add the funds to your Apple Pay Cash card first in order to send money to someone. It can be sent from a debit or credit card. However, money received will be added to the Cash card.

@Cscottrun, I just tested out your question and even though I have my AMEX credit card as my default Apple Pay card, it automatically used my debit card when I tried to add funds to the Apple Pay Cash card.

However, when you are actually sending someone money through messages, you will have the option to choose any card you like at the verification screen. If you have any balance on your Apple Pay Cash card, it will default to using that first.
Here is a link to the article which should answer any other questions you may have.
https://support.apple.com/en-us/HT207875

 

[LarryJoe33]

Okay, after a little research, I've got some answers.

@LarryJoe33, you do not have to add the funds to your Apple Pay Cash card first in order to send money to someone. It can be sent from a debit or credit card. However, money received will be added to the Cash card.

@Cscottrun, I just tested out your question and even though I have my AMEX credit card as my default Apple Pay card, it automatically used my debit card when I tried to add funds to the Apple Pay Cash card.

However, when you are actually sending someone money through messages, you will have the option to choose any card you like at the verification screen. If you have any balance on your Apple Pay Cash card, it will default to using that first.
Here is a link to the article which should answer any other questions you may have.
https://support.apple.com/en-us/HT207875

Nice work and thank you! I had a feeling actually sending through Message would answer some questions. Now, I just need someone to send money to. When I clicked the app in Messages when in a text with someone, it came back that the person wasn't set up as soon as I clicked the icon. I am guessing that there will be the ability to send money to someone even if they are not setup and they will be prompted to setup on their end to receive the funds.