how about bringing this to canada?
Sure. Find a Canadian bank that will partner and facilitate it.
how about bringing this to canada?
Oh, that would be ok.Doesn't sound like this is a per transaction requirement, just a get verified once to have access to the higher limits.
I agreeThis seems smart
I have no issues with this and certainly feel more comfortable doing identity verification with a company like Apple vs many random alternatives
30% “App Store” fee 😂I wonder if this will eventually get used for tax purposes? 🤔
I remember people on Twitter kicking up a fuss since you could potentially be taxed if you receive more than $600 on PayPal (it used to require at least $20,000 before the IRS got involved). I imagine the government wants its "fair share" of your Apple Cash transactions too. 😝
Many uses for Bitcoin thoughThere is never a reason for crypto.
If you care that much, use cash..
Identity verification is a one-time thing - not every transaction.I hope I am wrong, but if I have to take a picture of my license, and answer questions questions to complete a transaction, it sounds like using another payment method will be faster/easier.
Many uses for Bitcoin though
If their allowance is >$500.... ya wanna adopt another one? 😳Now… separately entirely and to the general audience. I use Apple Cash to fund my kids allowances. How in the world am I going to get an ID verification for them after this threshold? Their passports?
What's KYC? "Know Your Customer"?Probably KYC related being required by governments.
That must be some expensive soda!If you’re sending $500+ why would you not want this?
For small amounts I can understand (I don’t want contact information shares and I don’t care about the seller identity if I’m just buying a soda).
I hope I am wrong, but if I have to take a picture of my license, and answer questions questions to complete a transaction, it sounds like using another payment method will be faster/easier.
Blockchain technology and Crypto fixes this.Yay, more reasons for crypto!
Goodness, Canadian banks are allergic to anything that could remotely look like any sort of competition. It would force them out of their comfort zone and they definitely will have none of that.Sure. Find a Canadian bank that will partner and facilitate it.
Actually it is a KYC. A requirement from the Centralized Banks and GovProbably KYC related being required by governments.
I wish it could be set lower. Lately I've seen reports of people grabbing unlocked phones out of non vigilant people's hands and sending cash / Venmo payments then giving it back to them and running off.
But as others have said, probably a tax thing in the long run.
I thought the KYC threshold in the United States was $10,000. Does anyone know? I do know it is different in other countries. And international transfers are different than domestic?Actually it is a KYC. A requirement from the Centralized Banks and Gov![]()