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Apple Pay Cash Review & Rating

Arriving a little late to Facebook Messenger, Google Wallet and PayPal action, Apple Pay Cash is the latest point-to-point payment system from a technology giant. Apple's mobile operating system has long been linked to your credit card, thanks to the Apple Wallet application. Starting with iOS 11.2, however, the new Apple Pay Cash service allows the company to play an even greater role in their finances. For those who are passionately dedicated to the Apple ecosystem, it has an appeal. But if you want to pay someone who does not have an Apple device, it's better for you than a competitor, such as Venmo, that offers cross-platform options, as well as more advanced payment features.

What is Apple Pay? Cash?

Since iOS 8.1, Apple Wallet has allowed you to pay participating stores and websites from your iPhone, without contact, using a credit card that connects to the service. However, you could not afford to pay your friends directly, as you can with Facebook Messenger, Google Wallet, PayPal, Venmo and some banking applications. Unlike the previous functionality of Apple Wallet, with Apple Pay Cash, you can store money in an Apple account, instead of using Apple Pay as a conduit for a credit card or bank.

Starting with Apple Pay Cash

If you have not already done so, you must first download and install iOS 11, specifically 11.2. You can force the update by going to Settings> General> Software Update. Otherwise, a slide switch in the Payments section of Wallet & Apple Settings allows you to enable Apple Pay Cash. Once you have swiped this switch, you must enter your Apple ID and password and accept a legal agreement that states that services are provided through Green Dot Bank. The terms indicate that Apple Pay Cash comprises two services: a virtual payment card and the funds transfer service.

  Set up Apple Pay Cash

Pay Cash works with all Apple phones back to iPhone 6, and on iPads starting with the Air 2 model. If you have a MacBook with Touch ID, you can use Apple Pay Cash, or you can Connect a previous Mac to your iPhone and pay that way. The service also works with all versions of Apple Watch . Androids or other non-Apple devices are not supported.

Please note that you can only send money to other iOS users who have accepted the agreement, and both must have a two-factor authentication configured for your Apple ID CARD. Two-factor authentication provides additional security, but is more stringent than the configuration requirements of other payment services. Note that the configuration also requires re-entering the digits of your credit card.

After completing these steps, I was asked to add a debit card to be able to transfer the money to my new bank account. However, you do not have to do this to use the service, I did not. In total, however, the configuration is no more complicated than with Venmo, although Facebook Payments is easier than any.

Using Apple Pay Cash

As with the Facebook Messenger payment application, send money through Apple's app messages; the option is in the application tray at the bottom of the screen Messages & # 39; . Simply touch the A icon to open it. Then you will see a dollar amount that can increase or decrease, and you can change between paying and applying. Venmo and Google Wallet require you to open your applications separately to make payments; So that's an advantage for Facebook and Apple, since you access payments from an application that you probably already use regularly.

When I clicked Pay to send $ 1 to a colleague and then pressed Send arrow, I had to approve the transaction with a finger touch Touch ID (of course, iPhone X users will use Face ID). To send this dollar, I paid a 3 percent fee (the same as with Venmo and other services), but that is because the payment was made through a credit card. However, if you use a bank debit card, you can avoid that fee. The chat entry says Pending until the recipient receives the funds.

  Pay with Apple

You can also use Siri to pay someone, but that's also offered by Venmo. Apple Pay Cash, fortunately, does not share by default all your transactions with a special social network, such as Venmo. With Venmo, unless you change your privacy settings, any of your contacts can see exactly who you paid in a transaction feed. Some may like this, but it seems an invasion of privacy for me. However, Venmo offers a couple of important advantages over the Apple system: you can scan a QR code to verify your beneficiary, and you can attach notes along with a payment. Venmo also allows you to pay amounts less than $ 1, the minimum of Apple. Google Wallet, also available for iOS, adds the ability to split payments across multiple recipients.

If you receive money from a contact, enter your Apple Cash Cash virtual card. You can use that balance by returning it to a connected bank account or to pay for something else through Apple Pay or Apple Pay Cash.

Apple Pay Cash, Venmo and PayPal can be used to buy at online retailers; PayPal (which also owns Venmo) may have the advantage here, as the leading Internet payment service. However, the biggest advantage of Venmo, PayPal and Facebook Payments is that they are independent of the platform; with any of them, you can send money to anyone, regardless of the operating system you use. And with any of them, you can make and receive payments from a web browser, but not with Apple Pay Cash. If you are using the Apple system and want to pay an Android user, you will have to deliver old and dirty bills for now.

Should I pay Apple?

Apple Pay Cash offers a relatively easy and secure way for iOS users to make payments between pairs. But the tech giant is a little late in the party and, as with many things in Apple's history, the service also closed of as an ecosystem. On top of that, Venmo, our payment application Editors & # 39; Choice, offers a richer list of payment options. If Apple adds the ability to pay Android users, we will update this revision.

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