Apple Pay Cash Debuts In Challenge to Venmo

The Apple Pay improvements were announced during Apple's Worldwide Developers Conference in June.

For those who were not affected by the restart bug, it might be a better idea to hold off rather than updating to iOS 11.2, especially if one has an iPhone X. The rushed update reportedly causes Face ID to stop working on Apple's most expensive iPhone.

You use it by setting up a digital Apple Pay Cash card on your phone.

However, the roll out of iOS 11.2 on Monday didn't bring Apple Pay Cash to all users, which caused users to complain on social media. Just make sure to get "Apple Pay Cash" in the request, as Siri won't know quite what to do otherwise. Recipients will see the money stored on an Apple Pay Cash Card which sits within the Wallet app. But now that Apple Pay Cash is built into the iOS operating system, Apple's competitors may be at a disadvantage. You can send and receive money through Messages much like you can do with images.

If you are stocking your Apple Pay Cash card with funds from a current debit account, there are no fees. You can also deposit the balance on your Apple Pay Cash card into your linked current account, meaning you can convert the digital currency into real, hard cash. The service was not available at launch on the weekend, Apple has now enabled it. Venmo, which is part of PayPal, allows users to send and receive money, regardless of whether they have an iPhone or Android. Follow along for a look at how to set up Apple Pay Cash and the various ways to use it.

More information can be found on Apple's support pages including details on Apple Pay Cash limits, Identity Verification, and Set up help. "We accept digital money in almost all fiscal functions - from purchasing bonds and stocks, to managing checking and savings accounts, to simply splitting a dinner bill - removing the need for physical money". Cash app users can save the money they receive in the app, or deposit it directly to their bank account.

Vanessa Coleman