Apple Pay Cash Preview: A Look at Apple's New Peer-to-Peer Payments Service

[TallManNY]

If by "close to 50%", you mean 34%, then sure.

Are you talking about market share in what is sold each quarter or are you talking about what is being used every day? I know that the average iPhone sold in the U.S. gets used for a longer period of time than the average Android phone. And I would not be surprised if the average life of an iPhone is 4 years (two years with the first owner and then handed down or sold into secondary market and continued to be used) while very few people are using four year old android phones. Sure the top of the line Galaxy phones might last four years. But the Android market is filled with tons of cheap phones. Those $300 Androids aren't used for four years. So I'm talking about the addressable market of iPhone users. And I suspect current used iPhones make up much closer to 50% of all daily used smartphones in the U.S.

 

[doelcm82]

You can't imagine buying something on craigslist from someone using Android? Or maybe going out to dinner with friends and paying your portion to someone with Android?

I said I can't imagine a situation where I'd use something else when Apple Pay Cash is an option. If I were out do dinner with friends who couldn't accept Apple Pay Cash, I'd probably fall back onto having the server split the bill and pay my portion with a credit card. Or I'd give them cash, or pay them later.

If I regularly found myself in situations where going to the trouble of setting up another payment method made sense, I'd consider it.

On the other hand, Apple Pay Cash is going to be a standard part of the OS, and doesn't appear to be difficult to set up. I'll probably set it up just so that it's ready (just as I set up credit cards in Apple Pay that I haven't used with Apple Pay; they're there if I ever find myself in a situation where I need them). I am not a big fan of plug-ins, and I've weaned myself from the few that I used to use, like 1Password, Adobe Flash, and a snap to edge window manager that I installed because I liked that feature on Windows. I don't even use Parallels any more.

 

[I7guy]

I don't know... Facebook messanger has this feature for over a year now and you don't have to deal with a virtual third-party card. Also I can send money to everybody with a Facebook account.

But I don't have to deal with facebook.
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Have you ever heard of PayPal or venmo? It’s free with similar limits as Apple Pay Cash

Now I don't have to deal with either of them and never had a paypal or venmo account. I imagine APC will gain a lot of momentum.

 

[charlituna]

What happens if you send a $1 to a group chat?

the app apparently doesn't work with a group chat

 

[iBungie]

Can't wait until 2019 to try this in the UK

And until then there are ways to transfer money in the UK either as a one off payment or as a repeatable payment - for example using the iOS App for the UK Bank I use. (need to know recipients bank account number & sort code).

 

[Knightcastle]

And until then there are ways to transfer money in the UK either as a one off payment or as a repeatable payment - for example using the iOS App for the UK Bank I use. (need to know recipients bank account number & sort code).

Don’t forget also the handy method; jumping in the car, driving to an ATM, withdrawing the right amount of cash, calling the person to arrange to meet them and warning them they need to prepare the right change then driving over and giving them the money (need to know the recipients address and availability)

Come to think of it, I don’t want Apple Pay Cash at all.

 

[deckard666]

Once its out of beta and just part of iMessages then I could even see my mum using this whereas asking her to use any other third party solution would be an impossible task....

 

[lanceh5]

WHY IS THERE AN AGE REQUIREMENT! WHY IS APPLE ANTI-FAMILY! AAAAARGH!

I know, I know. Everyone can come up with a wacky justification for why only people 18 and over should have money in their phones. But seriously, this is a great feature that could really benefit families. Allowance, Payback, Chore-Incentives, Emergency Cash etc.

Its frustrating because it just seems like Apple doesn’t understand families or something
- No multi user logins for iPads
- No Family Share for Photo Libraries
- FaceID to one user
- New simplified awesome payment system has age restriction

Again. No hate here but dont these people have kids or spouses?
I was excited for this feature so when I installed it on my kids phone and got denied then its just disappointing.

Tim and Jony do not have kids.

 

[bozzykid]

And I suspect current used iPhones make up much closer to 50% of all daily used smartphones in the U.S.

Simply not true. Multiple research companies have the Apple market share in the US in the low 30% range. Market share is not yearly sales but active users.

 

[TallManNY]

Simply not true. Multiple research companies have the Apple market share in the US in the low 30% range. Market share is not yearly sales but active users.

Interesting. I would have not guessed that all. In any case, the market of U.S. iPhones is big enough to launch any service you want into it. And it seems to be the target audience for most Apps and services. And in my circles of friends and family, iPhone makes up about 90% of all Smartphones. And note that I am someone who has pretty much always carried a Blackberry of some sort. So I use non-iPhones all the time. But I've also had an iPhone as well since the iPhone 4.

 

[Archmage]

What do you have to do there?

I don’t even know. Routing number and account number? Plus a fee?