Apple Pay Cash On Your iPhone Is Easy To Use And Set Up
Here’s how to set up and use Apple Cash in your Apple Pay wallet to send, receive and request money on both your iPhone and Apple Watch.
If you’re using Apple Pay on your iPhone or Apple Watch , you might wonder about the tiny black Apple Pay oval at the bottom of your Messages app. Or perhaps a friend sent youÂ;money with Apple Cash and you want to know what you can do with it. I’m going to walk you through setting up and using Apple Cash in your Apple Pay wallet to send, receive and request money as well as transfer cash into your bank account.
With Apple Cash, Apple Pay and the Apple Card — also known as Apple’s — it can be confusing to know what each does and doesn’t do. Apple Cash is tied to your Apple Pay and lets you make purchases in stores, apps and on the web. You can also transfer the money you have on Apple Cash to your bank account. It’s similar to the way Venmo and the Cash app by Square works, except it’s tied to your Apple ID.
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You can send people money with Apple Cash and people can send you money, which is automatically and securely kept on your Apple Cash card. However, there’s not an actual physical card, just a metaphorical one. If you want to follow along step by step, check out the video above.
You can send, receive and request money with Apple Cash. It works like Venmo and the Cash app from Square.
Where Can Apple Pay Be Used
Apple Pay currently works in dozens and dozens of countries around the world. It works in both stores and online. In stores, you can use Apple Pay virtually anywhere that takes contactless payments. In the U.S. popular stores that accept Apple Pay are Macys, Starbucks, McDonalds, Apple Stores, Nike, Disney Stores, PetCo, Whole Foods, and more.
Apple Pay is also capable of making transactions in apps, which makes paying for services in third-party apps much more secure. Supported apps include Uber, Target, Tickets.com, Panera, OpenTable, and Groupon, among many, many others.
As of 2020, nearly every single store you go into or frequent regularly will accept both Apple Pay and . In the last 12 months or so, Ive yet to find somewhere, save for a few seriously underground cash-only bars, that do not accept Apple Pay or Google Pay.
How To Check Your Apple Pay Transaction History
1. Open the Wallet app.
2. Tap on any card you want to inspect.
3. Select the “Transactions” button and you should see a list of all the transactions made with that card appear under it.
4. If you don’t see any transactions, the transaction history might be turned off. To turn it on from the Transactions tab, tap the “Show History” toggle so it’s green.;;
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Where Does Apple Cash Work
Apple Cash works wherever Apple Pay is supported, which is anywhere that contactless payment is supported.;
Not only can you use funds in your Apple Cash card to send and receive money via Messages, but you can also use it to make Apple Pay purchases at retail locations, on the web, and in apps.
You can even transfer Apple Cash funds to your own bank account or eligible Visa or Mastercard debit card. You can find out more about how to do that on Apple’s Support page.
Its Not The Same As Using It With An iPhone; Its Easier
So, it’s April 25, 2015 and the delivery man has just delivered your new Apple Watch. Your first instinct: Spend more hard-earned cash trying out Apple’s mobile payment system, Apple Pay.
The question is, how?
Although Apple Pay has been available for iPhone 6 and 6 Plus users since October, it works differently with Apple Watch, which arrives in retail on April 24.
Here’s a rundown on Apple Pay, its use on the latest iPhones and how it will work with the Apple Watch. Given the tight integration between the Watch and the iPhone, it’s important to understand how the two work in tandem to enable what seems like a simple and seamless process.
Refresher: What is Apple Pay?
Apple Pay is a digital payment system designed around security, privacy and speedy mobile transactions. Essentially, it replaces traditional magnetic-swipe credit- and debit cards with digital equivalents that can be used for secure in-store or in-app purchases. All purchase information is kept private; Apple doesn’t receive or store any purchase details on its servers.
The Passbook app acts as the front-end for this data, displaying the credit and debit cards that are active, as well as your recent transaction history.
About those security concerns
If someone managed to hijack the transaction and break the encryption, the data accessed would be meaningless. And if you ever lose your phone, there’s no need to cancel any cards because the credit card data isn’t on it anyway.
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What Is Apple Pay
Apple Pay is Apples contactless payment technology. With it, users can simply place their iPhone up to a contactless card terminal and press their finger to their iPhones Touch ID to authenticate for their purchase. With newer iPhones with Face ID, users will simply scan their face to authenticate a purchase
When Tim Cook introduced Apple Pay in 2014 he stated that most people use credit cards, but added: fairly antiquated payment process that is almost 50 years old. Speaking about a credit cards drawbacks Cook said, Were totally reliant on the exposed numbers and the security codes that all of us know arent secure. Its no wonder that people have dreamed of replacing these for years. But theyve all failed.
But really. Its all about the Benjamins
With over 200 million credit card transitions a day in the US alone, Cook said the payment transaction area was ripe for Apples innovation. Innovation is one thing, but the advent of Apple Pay stands to net the company billions of dollars in revenue too. According to a report;from;Bloomberg, Apple receives a fee for every Apple Pay transaction, which means the company will get a share of the more than $40 billion bucks generated each year from credit card transactions.
How Does Apple Cash Work
Apple Cash allows you to send, receive and request money in the Messages app. It’s also possible to ask Siri to pay someone in your contacts. When you send money, your Apple Cash card will be used by default, but you can change this to use your debit card instead, or a combination of both if the amount is more than the balance on your Apple Cash card. If you send money to someone and they don’t accept it, you can cancel the payment.
When you receive money through Apple Cash, it is automatically loaded onto your Apple Cash card in Wallet, which you can then transfer to your bank account, use as any other card when making Apple Pay purchases, or use to pay someone through Apple Cash.
The first time you use Apple Cash, you will have seven days to accept the money you have been sent. Once you have accepted the terms and conditions, payments are automatically accepted – though you can change this to be manual.
Below is a breakdown of how to send money through Apple Cash, request money through Apple Cash, respond to an Apple Cash request and how to cancel an Apple Cash payment.;
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How Do Visa Mastercard Amex Make Money
For the services that they provide, each of the above parties take a small cut of the transaction amount. So if you purchase something from a merchant for $100, typically the Merchant gets paid only $98. The remaining 2% i.e. $2, is called the Discount Rate, and this $2 is split between all the participating parties that provide the credit card processing service.
The split between the parties may be as follows,
- Issuer Bank $1.70
- Payment Networksi.e. Visa, Mastercard, Amex etc. $0.10
- Acquirer or Merchant Bank $0.20
Note that in our example the Discount Rate is 2%, however in reality this Discount Rate depends upon the type and nature of the transaction.
In general the more secure a transaction, the lesser is the Discount Rate.
So an in-person transaction will have a slightly lesser discount rate eg. 1.99%, that an on the phone transaction eg. 2%. Also a chip-based credit card transaction will have a lesser discount rate eg. 1.97% than a non-chip based credit card. This is because it is assumed that the more secure a transaction the lesser the risk for that transaction i.e. the actual credit card holder is making an authorized transaction.
Visa, Mastercard, Amex, Discover, etc. are called
Now to answer our original question.
Does Apple Pay Work With Us Federal Payment Cards Too
Yes, these payment options are generally supported at retailers and sites that use Apple Pay. U.S. federal payment cards include those used for things like Social Security, GSA SmartPay, and veterans benefits. These are often provided through government-issued debit cards, which are generally supported through Apple Pay. You can see a full list of banks, credit cards, and payment options that support Apple Pay functionality here
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- On the web in Safari2
- Within apps7
How Do You Set Up Apple Pay For Use With A New Credit Or Debit Card
Setting up Apple Pay to use your credit or debit card is easy.
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How To Set Up Apple Pay On An iPhone Or iPad
1. Open your device’s “Settings” app and select the “Wallet & Apple Pay” menu.
2. Tap “Add Card.”
3. Tap “Continue” on the introduction page.
4. Select the type of payment card you’d like to add.;
5. Add a credit card by holding the phone over the card, letting the iPhone automatically read the number off the front of the card.
6. Or enter your card information manually by tapping “Next” and “Back” to toggle between entering your name and card number or expiration date and security code.;
7. You should see the Terms and Conditions page. Review the information and tap “Agree.”
8. Your iPhone will attempt to confirm the card with your card company and add it to the Wallet. For some cards, this happens automatically, though for other cards, you might need to enter a verification code or otherwise communicate with your card company.
9. When you finish this process, you should see the card appear in your Wallet. Repeat that process for any other credit cards that you want to add.
Where You Can Use Apple Pay
The list of places where you can use Apple Pay is far too long to include in this article. You can find a list of countries and banks that support it on Apple’s website here. A partial list of some major companies that accept it can be found here.
Both small independent stores and major international chains accept Apple Pay. A few big names include:
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What Do You Need For Apple Cash
To send and recieve money in the Messages app person-to-person using Apple Cash, you’ll need to have all of the following:
- Be at least 18 or over
- Live in the United States
- Have a compatible device running iOS 11.2 or later or watchOS 4.2 or later
- Set up two-factor authentification for your Apple ID
- Sign into iCloud with your Apple ID on any device that you want to use to send or receive money
- Add an eligble debit card in the Wallet app so you can send money
Send And Receive Money
Accepting customer payments isnt the only reason for businesses to use Apple Pay. It can also provide an easy and secure platform for your own transactions. In fact, Apple Pay allows you to easily send and receive payments in the Messages app of your iPhone or other Apple device. This can be useful if youre texting with a client or sharing expenses with a colleague on a business trip. Instead of using a third party payments app or having to withdraw cash, you can simply send and receive money in the apps you already use.
To use this option, you must have Apple Pay set up with a credit or debit card. Then open your Messages app and start a conversation with the person you want to send money to. Tap the apps icon next to the text box and then click the Apple Pay logo. Enter the amount, click the send button, and then confirm your payment using your passcode, face, or touch ID. Users can also send you a request for payment, at which point you just confirm the amount and send the appropriate payment.
Alternatively, if a client or colleague sends you money using Apple Pay in the Messages app, you just need to accept the terms and conditions to receive payment. The money is automatically added to your Apple Cash account. There, you can spend it with Apple Pay, send it in another message, or transfer it to a connected bank account.
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Which Devices Work With Apple Pay
Before you use Apple Pay near me, its important to find out whether your device is compatible with it.
To help you, know Apple Pay is compatible with:
- Apple iPhone 6 and 6 Plus
- Apple iPad Pro, iPad Air 2, and iPad mini 3
- Apple Watch Series 1
Plus, all the models succeeding these. This is because Apple Pay only works with the Near Field Communication antenna and Touch or Face ID.
Which Of My Devices Are Compatible With Apple Pay
You can use Apple Pay in stores on your iPhone X, iPhone 8, iPhone 8 Plus, iPhone® 7, iPhone® 7 Plus, iPhone® 6, iPhone® 6S, iPhone® 6 Plus, iPhone® 6S Plus, and Apple Watch with compatible iPhone 5 or later & Apple Watch Series 3, 2 & 1. Apple Pay can also be used in-app with your iPhone X, iPhone 8, iPhone 8 Plus, iPhone® 7, iPhone® 7 Plus,; iPhone® 6, iPhone® 6S, iPhone® 6 Plus, iPhone® 6S Plus, iPad Air 2, iPad Pro, iPad mini 3, iPad mini 4,; Apple Watch with compatible iPhone 5 or later and Apple Watch Series 3, 2 & 1. You can use also use Apple Pay on the web in Safari with MacBook Pro with Touch ID and Mac Model introduced in 2012 or later with Apple Pay-enabled iPhone or Apple Watch.
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