Using your debit card to purchase items online, gas stations, or even at restaurants can be dangerous. If your card is skimmed, it drains your checking account. Digital payment options like Apple Pay or Android pay are much safer.
They use a virtual account number that is different than your real account numbers that add another layer of protection for you.
Apple Pay is now adding a new feature that will allow you to use your virtual account to transfer money to others. If you've ever used Venmo, it makes splitting cabs, checks, or sending a small gift easy!
Apple Pay Cash
Apple is taking on Venmo and PayPal with its latest feature that is starting to roll out. How it works is if you want to send, say, $5 to your friend for your share of a cab ride, all you have to do is iMessage them.
The money you send is then taken from your debit or credit card tied to your Apple Pay account. Now on the reverse, if someone sends you money, it ends up in your Apple Wallet as a sort of virtual gift card. You can then use it anywhere Apple Pay is accepted or move it over to your bank account.
Pretty simple, you no longer have to use a third party app like Venmo or PayPal. It's all in iMessage!
How to set it up
The first step is to update your iPhone to the latest iOS, 11.2. You will find that in your General settings. If you already updated your device to iOS 11.2, you will just need to restart it. It also works with iPads and even the Apple Watch with the latest operating system.
In iMessage, find the person you want to send money to. Tap the "A," or Applications button, and then the Apple Pay logo. Enter the amount, and "Pay." Your device will then ask you to verify the transfer with your fingerprint or Face ID. It's safe, secure and instant!