More Details on Apple Pay Cash

You can also use your Apple Pay Cash balance to pay for goods or services anywhere that Apple Pay is accepted.

Apple Pay Cash is now live for U.S. users, allowing iPhone, Apple Watch, and iPad owners to transfer money to virtual Pay Cash cards.

Since iOS 8.1, Apple Wallet has let you pay participating stores and websites from your iPhone, touch-free, using a credit card that you connect with the service.

You might also be limited by the available balance on your debit or prepaid card or limits from your bank or card issuer. As long as you already have Apple Pay set up with a debit or credit card, this should be pretty easy to use.

But if you want to pay someone who doesn't have an Apple device, you're better off with a competitor, like Venmo, that offers cross-platform options, as well as more advanced payment features.

You'll find more Apple Pay instructions from Apple.

Apple has published a new how-to video to teach iOS users the basics of Apple Pay Cash.

But in case you're not quite sure how to get started, Apple has published a short how-to video on its YouTube channel.

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According to Apple, you will have to have two-factor authentication turned on to use the app.

If the recipient doesn't have an iOS device or doesn't meet the above requirements, you'll get a message that says they can not receive payments using Apple Pay. You can send or receive up to $10,000 over a 7-day period.

Apple says the transfers are secure on both ends of the transaction with Apple Pay.

Apple will walk you through the setup process, and ask if you want to enable Apple Pay.

"Through the business model Apple has built, banks have paid the freight for building Apple Pay, and with now Apple is powering merchant transactions through a pathway that essentially cuts banks out of the equation when Apple Pay Cash is used to pay merchants directly", said Richard Crone, a principal with Crone Consulting. This is perhaps the big kicker with Apple Pay Cash-it finally gives iPhone users a way to use Apple Pay without necessarily linking a debit or credit card, just as long as they receive money from other people through the Apple Pay Cash service.

WatchOS 4.0.1 can be downloaded through the dedicated Apple Watch app on the iPhone by going to General Software Update. Venmo also lets you pay amounts smaller than $1, Apple's minimum.

Should You Pay the Apple Way?

But the tech giant is a bit late to the party, and, as with many things in Apple's history, the service lives in too closed of an ecosystem.

To set up Apple Pay Cash, open the Wallet app and select the Apple Pay Cash card at the top. If and when Apple adds the ability to pay Android users, we'll update this review.

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