Apple Ends Support for Funding Person-to-Person Payments With Credit Cards, Renames Apple Pay Cash to 'Apple Cash'

[slippery-pete]

If you send cash to a friend using a credit card, that's technically a cash advance. Apple's design was following the rules. It's cash. Other companies that do this may be treating it like a service and therefore charging the card a merchant transaction, but that's bending the rules a bit. Removing the feature was the best course of action.

They did because they want you to use the credit card they are coming out with this summer. I will guarantee they will allow you to send cash to a person leveraging the new credit card.

It is a coincidence that the day the announce their card they stop allowing Apple Cash via credit card?

 

[shplock]

I am fed up to the back teeth with the way that Apple treats us in the U.K. Apple always refuses to release any of its services here. We are lucky to even get Apple Music. When will Apple stop making excuses and release Apple Cash here alongside large other services? I have heard of America first but America only? That is just ridiculous!

 

[robjulo]

LOL...yes soooo cumbersome. Put an email address in, an amount and hit send. So difficult.

This sucks. I used my credit card fine with no issues and (it was a credit and not a cash advance) but it would shock me if it was treated as a cash advance, which would be terrible.

Apple did the right thing, but now I have to use PayPal, which is cumbersome.

 

[digitalexplr]

So if Apple wallet doesn’t support your debit card?

Your card issuer must support Apple Pay.

 

[otternonsense]

Oh well. So much for a service we didn’t even get to use in Europe.

 

[TimUSCA]

I don't understand why you think people come out ahead. You're not only paying interest on credit when you make a cash advance, you're paying a cash advance fee too.

I was under the impression that sending someone money via Apple Pay Cash showed up as a credit card change and therefore was a loophole to get around the cash advance APR.

 

[Westside guy]

Well, it's better to avoid drawing cash advances against a credit card anyway...

 

[Khedron]

I am fed up to the back teeth with the way that Apple treats us in the U.K. Apple always refuses to release any of its services here. We are lucky to even get Apple Music. When will Apple stop making excuses and release Apple Cash here alongside large other services? I have heard of America first but America only? That is just ridiculous!

Rumour is Apple Cash is delayed in the UK because of anti-money laundering restrictions. Reassuring.

 

[bbfc]

I am fed up to the back teeth with the way that Apple treats us in the U.K. Apple always refuses to release any of its services here. We are lucky to even get Apple Music. When will Apple stop making excuses and release Apple Cash here alongside large other services? I have heard of America first but America only? That is just ridiculous!

We get quite a lot of the services they provide. More than the rest of the world (outside the US). Most services that aren’t yet launched are because of legal reasons.

 

[doelcm82]

Why are we still here? Very little of the Apple anyone ever loved seems to remain at this point.

Those of use who are still here either

1. don't agree with you, or
2. enjoy complaining.

 

[JetTester]

Yeah, that's the first step. The ultimate goal is to have US currency replace all references to the US with "Apple Cash", with a picture of Steve Jobs on every bill. Doesn't Apple already own most of the currency?

 

[pat500000]

So you conclude this is a failure even though you admittedly know nothing about it?

Okay. You go ahead and try their service and get back with me.

 

[bbednarz]

Okay. You go ahead and try their service and get back with me.

I most likely will this summer once it releases. I guess I don't understand why you feel this will be a failure. If anything I think it may help the adoption of wireless payments in the US.

 

[Spizike9]

Sorry I'm not familiar with how things work in the US. But this is just your own money right, not credit card? So you're being charged to access your own cash.

So this is like a tax on being poorer and having lower cash reserves? Otherwise you just wait a bit longer?

But why are people transferring money from Apple to a debit card anyway? Because they need to access cash from an ATM? Apple doesn't support ATMs?

I don't understand why you'd put your money into this bank service that then places these "inconvenience fees" on you.

I guess you could call it a tax for being poor. What is essentially happening is Apple is loaning you money for 1-2 days until your actual money is available. They are charging a 1% fee to do that. Nothing wrong with that. The person can always wait 1-2 days for the actual money movement to take place.

 

[Kaibelf]

People were probably abusing this by turning credit into cash while avoiding the higher APRs. My guess is that Visa and MC pressured them into this because there are very few loopholes out there.

I'd say the opposite. This is a withdrawal of cash on a credit line, and the fees are WAY more severe.
[doublepost=1553634163][/doublepost]

all fun & dandy but there's zero reason to stop using PayPal

All of these apple services all under one roof are getting disturbing. One iOS botched update and your life is put on hold. And botched iOS updates are not uncommon.
Really... who wants their money tied to Apple services? Just asking for trouble.

The wisest thing to do is diversify to other providers for: Music, Video, money (especially money) and everything else. So when there's a problem (and Apple certainly isn't immune to them) only one service goes down, not the whole freaking house of cards

Except that the money is tied through a bank, not Apple. The APC currently is backed by Discover, and the new card is Goldman. I'd rather have things under one roof in discrete divisions that are known for consumer privacy than really any of their competitors who do everything they can to endlessly package my life as a data item to be sold to "trusted third parties."

 

[k1121j]

Well back to PayPal for person to person payments and I thought Apple Pay would replace PayPal. Guess not.

 

[mariusignorello]

Is anyone actually seeing the rename from Apple Pay Cash to Apple Cash? I still have the old name and I’m updated. I also did a reboot.

 

[LeslieM825]

You can enter in any Bday you want. My daughter is not 18 and we set it up for her. Used it a lot.

since she already had an account they wouldn't let us change it...tried..
[doublepost=1553647369][/doublepost]

Is anyone actually seeing the rename from Apple Pay Cash to Apple Cash? I still have the old name and I’m updated. I also did a reboot.

You can enter in any Bday you want. My daughter is not 18 and we set it up for her. Used it a lot.

we tried that they wouldn't allow us to change it

 

[C DM]

I guess you could call it a tax for being poor. What is essentially happening is Apple is loaning you money for 1-2 days until your actual money is available. They are charging a 1% fee to do that. Nothing wrong with that. The person can always wait 1-2 days for the actual money movement to take place.

How is it connected to being poor or rich or anything like that? It's connected to the speed at which the money is to be transferred, which really has nothing to do with anything else.

 

[Spizike9]

How is it connected to being poor or rich or anything like that? It's connected to the speed at which the money is to be transferred, which really has nothing to do with anything else.

If you’re poorer you need your money right now as opposed to waiting a day or two. If you have more disposable income you don’t need the cash same day in your everyday bank account. So you are paying a fee for needing your money sooner or say poorer.

 

[C DM]

If you’re poorer you need your money right now as opposed to waiting a day or two. If you have more disposable income you don’t need the cash same day in your everyday bank account. So you are paying a fee for needing your money sooner or say poorer.

There could be all kinds of reasons you might want money sooner. That seems to be just one potential circumstance that is really more a generalization than anything else.

 

[dude-x]

If you send cash to a friend using a credit card, that's technically a cash advance. Apple's design was following the rules. It's cash. Other companies that do this may be treating it like a service and therefore charging the card a merchant transaction, but that's bending the rules a bit. Removing the feature was the best course of action.

I had to pay a 3% credit card fee though. And technically it's just moving money from one Apple Cash Pay account to another Apple Pay Cash account. Same as using Venmo, PayPal in this regard.
[doublepost=1553649222][/doublepost]

LOL...yes soooo cumbersome. Put an email address in, an amount and hit send. So difficult.

The new PayPal UI is rather obtuse and slow with transactions. Also the fee is not a flat 3% for credit card transfers making it more expensive for me.

 

[Kaibelf]

I am fed up to the back teeth with the way that Apple treats us in the U.K. Apple always refuses to release any of its services here. We are lucky to even get Apple Music. When will Apple stop making excuses and release Apple Cash here alongside large other services? I have heard of America first but America only? That is just ridiculous!

The way “Apple treats you?” Blame YOUR LEGISLATORS AND LAWS. Personally I am fed up with listening to people around the world complain that Apple moves forward with products rather than force North America to wait for them to FINALLY get around to approving it abroad. What did you want? Apple to hold back Apple Pay worldwide until Austria finally got around to joining the club THIS WEEK? Apple to hold back the EKG on the Apple Watch until British regulators have the go ahead? Perhaps we should just be unable to watch original shows on Apple TV until BBC2 agrees that we should be allowed?
[doublepost=1553659302][/doublepost]

Well back to PayPal for person to person payments and I thought Apple Pay would replace PayPal. Guess not.

Or, you know, don’t draw a loan on a credit card to give yourself imaginary cash?

 

[neil_cm17]

I am fed up to the back teeth with the way that Apple treats us in the U.K. Apple always refuses to release any of its services here. We are lucky to even get Apple Music. When will Apple stop making excuses and release Apple Cash here alongside large other services? I have heard of America first but America only? That is just ridiculous!

Do we really need it hear in the UK, after all you can use the faster payments service to move money instantaneous into another account, which is not the case in the US.

 

[frifra]

I am more wondering when the banks will wake up. I am aware that every country is different. But in Germany for example we don't use checks much and bank transfers are not allowed to take more time than 1 (banking) day.
[doublepost=1553695062][/doublepost]

So if Apple wallet doesn’t support your debit card?

If it's not Apple Pay, it's not Apple Pay . We have Apple Pay in Germany, but way to few banks are supporting it. Even with 2 bank Accounts and 5 credit cards, no apple pay for me.