iOS 11 will release today, and many of features will come with iOS11, in Rumors point of view. Apple’s Apple Pay Cash feature still not arriving with the new operating system for iOS 11. Apple Pay service will instead ship in a later release to iOS 11, due this fall. And also Apple Pay Cash service as “coming this fall,” as Rumors has pointed out.
The payments service, which will serve as Apple’s competitor to rivals like PayPal or Venmo, was first declared at WWDC in June. The organization clarified at the time that the feature will be built with the iMessage application, allowing users to send and request money from friends and family with a tap.
And similarly, this service will also work with Siri, so you can tell Apple’s built-in virtual assistant to pay someone in order to kick off a transaction. The finance will come from customer’s credit and debit cards officially spared into their Apple Wallet application. And when customers get paid via Apple Pay, they’ll get the money in another “Apple Pay Cash” card stored to Apple Wallet and making the funds accessible quickly.
You can choose to transfer those funds from the virtual card to your bank, if you need, but they can stay on the card, where they can be connected to transactions both in-store and online. This is a great move from Apple’s part; because payments companies can profit by holding customers adjusts.
Some other Pay Cash services, already offer integrations with iMessage via applications, but Apple’s here is the sizable user base of existing iOS devices customers, and in addition the way that it possesses the stage, allowing for a more seamless customer experience.
Apple already has most of customers’ payment cards on file, as customers generally add cards to their Wallet, as well as to their Apple profile. So, in order download apps from the iOS App Store, or make purchases from iTunes.
Apple’s move comes at a time when there’s increased competition among mobile payments providers. Likely to PayPal, Venmo and Square Cash, U.S. banks have chosen to get in on the activity too with Zelle, a Venmo-like application that recently became available on iOS and Android offering instant bank transfers.