Apple appears to have remotely enabled Apple Pay Cash for iOS 11.2 beta testers, meaning developers running the build released on Monday should also gain access to the feature soon.
The feature, which is only available to beta users within the United States, allows users to send cash to other users via a dedicated Apple Pay app within Messages. Funds are transferred to a prepaid “Apple Pay Cash” card, which can then be used as a payment source for future Apple Pay transactions.
The person-to-person payments are funded using existing credit and debit cards already added to Apple Pay, with transactions involving credit cards incurring a small fee while debit cards will not.
In each message you can send or receive a minimum of $1, up to a maximum of $3,000. Within a 7-day period, users can send or receive up to a maximum of $10,000.
Users who wish to add money from their debit or prepaid cards can add a minimum of $10 per transaction, up to a maximum of $3,000. Within a 7-day period, users can transfer up to a maximum of $10,000.
If you receive an Apple Pay Cash transaction and you wish to transfer the balance to your bank account, Apple let’s you do this, but there are limits. You can transfer a minimum of $1 to your bank account per transaction, up to a maximum of $3,000. Within a 7 -day period, you can transfer up to $20,000 to your bank.