Apple Pay Gaining Person-to-Person Payments Within Messages in iOS 11

[MacRumors]

Apple Pay will soon get a person-to-person payments feature within Messages in iOS 11, allowing users to send money to friends and family members directly within a text conversation.

Apple said that when users get paid, they will receive money in a new "Apple Pay Cash" account, which they can then use instantly to make a purchase using Apple Pay in stores or online, send as a payment to someone else, or transfer it from Apple Pay Cash to their bank account.

Article Link: Apple Pay Gaining Person-to-Person Payments Within Messages in iOS 11

 

[n-evo]

We'll, people are finally getting that dark interface in iOS 11.

 

[BMcCoy]

It will presumably include a % fee to Apple for every transaction?

If you can use credit cards, via Apple Pay, then there's a credit card interchange fee to be paid by someone. That's how we get air miles etc with credit cards.

Retailers often pay this. Some add it on, like online airline booking, with their 'credit card fees' at the end.

If there is no fee in this person-to-person pay method, then it becomes the greatest ever 'manufactured spend' mechanism to build air miles..

 

[rybitron]

It will presumably include a % fee to Apple for every transaction?

If you can use credit cards, via Apple Pay, then there's a credit card interchange fee to be paid by someone. That's how we get air miles etc with credit cards.

Retailers often pay this. Some add it on, like online airline booking, with their 'credit card fees' at the end.

If there is no fee in this person-to-person pay method, then it becomes the greatest ever 'manufactured spend' mechanism to build air miles..

How is /r/churning doing?

 

[DeepIn2U]

AHAHA ... I cannot WAIT for cheating husbands and wives making payments to one another to *********s/-guys using Apple Pay 2 Person and Apple servers get HACKED to leak this.

I seriously waiting for this ... you think AshleyMadison hack was big ... just wait

 

[jmh600cbr]

guranteed only in the US

 

[zorinlynx]

I hope that app drawer can be hidden. I don't want that wasting screen real estate all the time when using messages.

 

[DrewDaHilp1]

I hope that app drawer can be hidden. I don't want that wasting screen real estate all the time when using messages.

It'll will probably work like the in message apps already do.

 

[Kaibelf]

AHAHA ... I cannot WAIT for cheating husbands and wives making payments to one another to *********s/-guys using Apple Pay 2 Person and Apple servers get HACKED to leak this.

I seriously waiting for this ... you think AshleyMadison hack was big ... just wait

I suspect you're not familiar with how the Apple Pay system is structured.

 

[bigchrisfgb]

It will presumably include a % fee to Apple for every transaction?

If you can use credit cards, via Apple Pay, then there's a credit card interchange fee to be paid by someone. That's how we get air miles etc with credit cards.

Retailers often pay this. Some add it on, like online airline booking, with their 'credit card fees' at the end.

If there is no fee in this person-to-person pay method, then it becomes the greatest ever 'manufactured spend' mechanism to build air miles..

I'm going to assume credit cards will be either omitted or fee levied. If they manage to make debits cards free or free up to a certain amount of income (in order to prevent money laundering) then this is huge. Samsung Pay and Android Pay will soon gain P2P payments as well, which will soon put Paypal on the back foot.
Please let this be a UK release as well.

 

[AVEGA]

This is nice ! Now you can pay garage sales via Apple Pay .

So I bet square for Apple is now basically worthless for newer phones?

 

[bigchrisfgb]

Confirmed as US only.

 

[Glassed Silver]

I'm going to assume credit cards will be either omitted or fee levied. If they manage to make debits cards free or free up to a certain amount of income (in order to prevent money laundering) then this is huge. Samsung Pay and Android Pay will soon gain P2P payments as well, which will soon put Paypal on the back foot.
Please let this be a UK release as well.

Anything to tip Paypal's thrown is welcome in my books!

They aren't all bad and in fact I'm grateful for what they enabled customers and sellers to accomplish worldwide for so many years now, but it's about damn time they get big scale competition on a serious level.

And thank God eBay and Paypal split.
They probably still have some forms of beneficial special contracts, but eventually eBay will look out for its own best interest and be able to negotiate better terms for them and probably us as well, those who end up choosing a payment method that gets in our way the least and has sensible pricing.

Glassed Silver:mac

 

[bigchrisfgb]

Anything to tip Paypal's thrown is welcome in my books!

They aren't all bad and in fact I'm grateful for what they enabled customers and sellers to accomplish worldwide for so many years now, but it's about damn time they get big scale competition on a serious level.

And thank God eBay and Paypal split.
They probably still have some forms of beneficial special contracts, but eventually eBay will look out for its own best interest and be able to negotiate better terms for them and probably us as well, those who end up choosing a payment method that gets in our way the least and has sensible pricing.

Glassed Silver:mac

Paypal were are far to quick to investigate your money dealings, especially if it was eBay related. Website forums and review sites are awash of Paypal just taking back or withholding money that they shouldn't. Not only this but they have managed to con people into paying for money transfers directly from their banks. I'm not sure how it works in the USA but here in the UK most banks have a facility in their app where you can make direct cash transfers to your contacts for free. Paypal have had a monopoly on money transfers for too long, and it is going to be a good day when Apple Pay, as well as Android Pay, and Samsung Pay take them down. If all 3 companies were somehow able to get past their differences and give all 3 systems the ability to trade money with each other then Paypal will be obsolete within 5 years.

 

[Glassed Silver]

Paypal were are far to quick to investigate your money dealings, especially if it was eBay related. Website forums and review sites are awash of Paypal just taking back or withholding money that they shouldn't. Not only this but they have managed to con people into paying for money transfers directly from their banks. I'm not sure how it works in the USA but here in the UK most banks have a facility in their app where you can make direct cash transfers to your contacts for free. Paypal have had a monopoly on money transfers for too long, and it is going to be a good day when Apple Pay, as well as Android Pay, and Samsung Pay take them down. If all 3 companies were somehow able to get past their differences and give all 3 systems the ability to trade money with each other then Paypal will be obsolete within 5 years.

Word.

However, as for international payments Paypal remains one of the best ways for CUSTOMERS.

For sellers it's a bag of pain and a high risk company to do business with. (in the end likely to raise prices for the customer too)

So yes, anything that shakes things up is welcome.

Glassed Silver:mac

 

[JosephAW]

Might give me a reason to switch to 11
[doublepost=1496699304][/doublepost]This should work like airdrop, or a bump feature

 

[CarlJ]

It will presumably include a % fee to Apple for every transaction?

If you can use credit cards, via Apple Pay, then there's a credit card interchange fee to be paid by someone. That's how we get air miles etc with credit cards.

They said that when you receive money it goes onto a (presumably virtual) "Apple (something, cash?) Card", and then you can transfer it from there to a bank card, if you want - presumably there may be a transaction fee for transferring, unclear who will pay. I'm guessing they may expect that the interest they get off the money people leave in Apple's hands, day-to-day, will cover the transaction fees for sending it to a bank. If a million people each end up with $5 left on their "card", that they keep there expecting to eventually transfer on to someone else, that's $5 million for Apple to collect interest on. And it'll probably end up being much more than $5 million in their float account.

 

[craigmak]

This is nice ! Now you can pay garage sales via Apple Pay .

So I bet square for Apple is now basically worthless for newer phones?

I was thinking this could be huge for food trucks just as long as the fee schedule is reasonable.

 

[clunkmess]

Hopefully we can enable 'auto transfer to bank' for when you receive payments? I use Square Cash almost daily at work to collect payments for Starbucks runs and i like how it's in my account the next day, automatically.