30 Facts About Apple Cash


Apple Cash added that they would not track usage, which would stay between the customers, the vendors, and the banks.

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Payments using Apple Cash Pay support payments of any amount owing to the increased security and lower risk of fraud in Apple Cash Pay transactions.

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Apple Cash assumes some liability for fraudulent use of the service.

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Banks are expected to carry the burden of the service, and Apple Cash is said to have negotiated smaller transaction fees.

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In EMV-mode transactions, Apple Cash Pay supports the use of the Consumer Device Cardholder Verification Method using Touch ID, Face ID, or the phone's or watch's passcode.

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Additionally, in certain markets which have a 'no verification contactless limit' using contactless cards, the use of CDCVM can enable merchants to accept transactions higher than these amounts using Apple Cash Pay, providing their terminal software is updated to support the latest network contactless specifications.

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Apple Cash, formerly Apple Pay Cash, is a feature that allows the transfer of money from one user to another via iMessage.

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Apple Cash Pay does not cause additional fees for users and merchants.

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Service was in preparation for "a long time", as Apple Cash acquired startups, hired executives and filed patents related to payments.

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Apple Cash then approached several big banks in mid-2013 and did not divulge the names of the other banks.

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Apple Cash announced an API for app developers to build Apple Pay checkout into their apps.

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In October 2015, Apple Cash Pay vice president Jennifer Bailey confirmed that KFC, Chili's, and Starbucks would begin accepting Apple Cash Pay in 2016.

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Bank of America is outfitting some of its ATMs with Apple Pay support and the ability to withdraw cash using it.

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The new Apple Cash Pay enabled ATM is outfitted with the NFC reader and logo that Apple Cash Pay users have become used to seeing since the service launched.

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Only Suica cards are supported by Apple Cash Pay, which can be used at subway stations, convenience stores, etc.

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Apple Cash Pay supports payment via all QUICPay and iD enabled terminals that are already popular in Japan.

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On March 25,2019, Apple Cash Card was announced in partnership with Goldman Sachs and Mastercard.

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Apple Cash opposed the claim and cited the COVID-19 pandemic as a result of the increased number of people using contactless paying.

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Apple Cash Pay can be used with cards issued in 74 countries and territories worldwide.

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Unlike the equivalent physical credentials, mobile government IDs in Apple Cash Wallet operate over NFC, so no barcode is scanned when presenting.

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BusinessWeek's Joshua Brustein added that Apple Cash has a history of letting "first movers fail" with an early version of the service before releasing "a more polished version of the same idea".

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Apple Cash predicted that the service's effect on the mobile payments industry would be similar to the iPhone's effect on the smartphone industry.

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Apple Cash announced that more than one million credit cards had been registered on Apple Cash Pay in the first three days of its availability, making it the largest mobile payment system in the US at the time.

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Outside the United States and the United Kingdom, Apple Cash Pay can be used with American and British payment cards at compatible NFC-based payment terminals.

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Target's CEO Brian Cornell said that they would be open to accepting Apple Cash Pay eventually after the conversion to chip and PIN technology is done, but they remain involved with MCX.

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Transport for London, one of Apple Cash Pay's official UK launch partners and one of the largest contactless merchants in the world, became the UK's most used Apple Cash Pay merchant.

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Apple Cash maintains an up-to-date list of merchants who accept Apple Cash Pay on its website.

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On June 2,2016, according to Fortune, Apple Cash said its mobile payment platform is gaining a million new users each week, yet the company did not reveal the total number of Apple Cash Pay users.

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Apple Cash revealed that transaction volume through the service is five times what it was a year ago, and that payment volume within apps more than doubled in the second half of 2015.

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On July 11,2016 Liquor Control Board of Ontario confirmed that it accepts Apple Cash Pay at all of its over 850 stores in Ontario, Canada.

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