Apple Pay Cash Likely to Launch in Europe Imminently

[Heineken]

There is already a peer-to-peer phone payment system in Sweden with near 100% penetration, on both Android and iOS devices. No way this will fly. The Apple Pay Cash UI looks better (of course with much better iOS integration) but they are a few years too late.

Same goes for Norway and Denmark, where there are similar systems in place.

That's not how it works.

 

[Laggy]

I got this a few day ago.

 

[Weaselboy]

What fee if any does Apple charge to use this?

There is no fee for a debit card and it is 3% for a credit card.

Is there a limit on how much an Apple Pay Cash card can hold and is there a limit on how long the money can be held in the card? If it’s a pretty high number without a time limit, it could be effectively used as a replacement for a chequing account.

I’d probably still want to have a bank investments account but chequing accounts for daily spending cash might become a thing of the past.

https://support.apple.com/en-us/HT207884

They limit the balance to $20,000.

 

[Shanghaichica]

So why would I want to give my mobile number to total strangers when selling at a car boot sale, or anywhere else. That is the biggest flaw with that system. Tying it to personally identifiable information is daft. Whoever approved that or thought it was a good idea should be sacked

I’d rather give a stranger my phone number than my bank details.

 

[ryanwarsaw]

There is no fee for a debit card and it is 3% for a credit card.



https://support.apple.com/en-us/HT207884

They limit the balance to $20,000.

Thank you for the info. That's some sweet sweet services money.

 

[cyb3rdud3]

I’d rather give a stranger my phone number than my bank details.

They can’t do anything with your bank number. As such I really don’t understand that comment, and it clearly demonstrates a misunderstanding of what a bank account number is.
[doublepost=1538587000][/doublepost]

For you to use any P2P system, you need to give personal information, whether it's your phone number, your Apple ID or email address. The only way to give totally anonymously is via cash - and I suspect you already use that.

If you are that worried, buy a PAYG phone and use that number instead.

No you don’t. You can’t be harassed by exchanging a bank account number. You can do that with NFC or QR and make it really easy. You won’t get people calling you when they don’t like the transaction or when they like you. It is beyond stupid to exchange personally identifiable information with total strangers for payment information. And that is the reason the takeup of that system isn’t there.
[doublepost=1538587156][/doublepost]

That is a very good point and is one of the reasons I've never used PAYM. I mainly use PayPal for such dealings although that also has it's own issues. I think the beauty of Apple Pay Cash is that it is very much like giving someone physical paper money in the sense that you can't then dispute it and take it back without the other person having a say, which is the biggest problem with PayPal. If there is a dispute PayPal immediatley side with the person who made the payment which has lead to many unscrupulous people making false claims and getting refunds that they are not entitled to.

Exactly, you’d want the immutable transaction and ideally a one time use address. So personally I think Apple has it wrong as well. Bitcoin does it right, however it is too cumbersome to use. But when you combine the onetime use address that is not including personally identifiable information with an easy to use immutable transaction, then we have a proper cash replacement service.

 

[ipedro]

There is no fee for a debit card and it is 3% for a credit card.



https://support.apple.com/en-us/HT207884

They limit the balance to $20,000.

That's actually not bad at all. If and when it comes to Canada, I think I'll be replacing my chequing account with Apple Pay Cash. I already pay almost everything with ApplePay anyway. All of my day to day purchases are with my AppleWatch. Virtually every store, shop and even street vendor accepts ApplePay in Toronto.

The remaining questions are, how would I get money onto ApplePay Cash? And would I be able to pay bills with ApplePay? On the first point, I receive payments from my clients via Square. I wonder if Square would be able to send money to ApplePay Cash rather than into a bank account. On the second point, is there a record of typical service providers like phone/internet companies accepting ApplePay?

 

[ijordano]

This showing on the Apple Watch is a known bug, unfortunately

 

[dom_a2345]

I had to wipe my phone last week and set up from scratch.

After i did this i noticed the Apple Pay card in my wallet and the toggle switch in the apple settings page, which was strange as i have a UK itunes account an UK number and i am located in the UK.

I can go through most of the steps but dont have a zip code so cant go any further.

 

[PowerMacBook]

Strange the Netherlands is the leader when it comes to making contactless payments (NFC) then paying in cash, as is more done in Germany, and there is still no Apple Pay and Apple Pay Cash. Very strange and do not understand the reason.

Infrastructure is there and is used carefully, see many people with an Android device that do this.

It's funny how the naming Apple Pay and Apple Pay Cash are that confusing to many, including myself in the beginning.
For Apple Pay Cash there's no infrastructure in the form of NFC required from The Netherlands.

Apple Pay Cash is about sending money to others using the Messages app on macOS, iOS and watchOS.
Since Apple Pay is already in some European countries, I'm not sure why Apple Pay Cash is difficult to implement in these countries?

 

[saguerra]

It’s almost 2021 and still no Apple Pay Cash in Europe 🙄

 

[architect1337]

There doesn't seem to be a requirement in the UK; the banks have their own system called paym that allows people who use mobile banking to send cash to others using their mobile phone number / contacts only.

Europe outside the UK, may not have such a system in place though - so could be good for them.