See how Apple Pay person-to-person payments will work in iOS 11

AppleInsiderAppleInsider
Posted:
in iPhone edited June 2017
With iOS 11 coming this fall, Apple Pay will allow you to send money directly to friends, family and others through the Messages app. See how it will work in AppleInsider's latest video.






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Comments

  • Reply 1 of 26
    jawestonjaweston Posts: 18member
    What will be the schedule of charges by Apple to the payee?
  • Reply 2 of 26
    Rayz2016Rayz2016 Posts: 6,957member
    I'm guessing it will be free. 
    jbdragon
  • Reply 3 of 26
    eightzeroeightzero Posts: 3,148member
    Well...that was unhelpful. No discussion of the fees? And no, you can't send money to all your friends. Only those that have iOS11 running. What about the security of this and the Tos? If Apple receives a subpoena for records (say, from the IRS) does Apple have transaction records it can disclose? 

    Questions questions.
  • Reply 4 of 26
    markiezyymarkiezyy Posts: 16member
    Rayz2016 said:
    I'm guessing it will be free. 
    It's free when using a debit card but there is a 3% charge when using a credit card.
    retrogustolostkiwicalimarkdmoss
  • Reply 5 of 26
    maestro64maestro64 Posts: 5,043member
    markiezyy said:
    Rayz2016 said:
    I'm guessing it will be free. 
    It's free when using a debit card but there is a 3% charge when using a credit card.

    Is that documented somewhere, I was curious who was going to pay the transaction fee to the CC company. Surely Apple was not going to front that cost for its customers. I would imagine each CC company has it own fee they would charge so it my be different than 3% unless Apple was able to get everyone to agree to the same %, also does able get he 0.15% on each transaction.
  • Reply 6 of 26
    tzeshantzeshan Posts: 2,351member
    markiezyy said:
    Rayz2016 said:
    I'm guessing it will be free. 
    It's free when using a debit card but there is a 3% charge when using a credit card.
    How about PayPal?
  • Reply 7 of 26
    toysandmetoysandme Posts: 243member
    tzeshan said:
    markiezyy said:
    Rayz2016 said:
    I'm guessing it will be free. 
    It's free when using a debit card but there is a 3% charge when using a credit card.
    How about PayPal?
    PayPal was free to use when first introduced. They made their money "on the float" they said. Last time i sold something to someone I lost 4%. But I think there is a way to send money to friends without transaction fees. 
  • Reply 8 of 26
    tzeshantzeshan Posts: 2,351member
    toysandme said:
    tzeshan said:
    markiezyy said:
    Rayz2016 said:
    I'm guessing it will be free. 
    It's free when using a debit card but there is a 3% charge when using a credit card.
    How about PayPal?
    PayPal was free to use when first introduced. They made their money "on the float" they said. Last time i sold something to someone I lost 4%. But I think there is a way to send money to friends without transaction fees. 
    You use ApplePay for PayPal?  PayPal never charged me transaction fee when I use it on the Mac. 
  • Reply 9 of 26
    getvoxoagetvoxoa Posts: 84member
    PayPal doesn't charge a fee if it's between friends and family but will charge a fee for buying and selling as a business.
  • Reply 10 of 26
    SpamSandwichSpamSandwich Posts: 33,407member
    Would a person be able to transfer $10,000 or more using this method of person-to-person electronic funds transfer?
    edited June 2017
  • Reply 11 of 26
    Rayz2016Rayz2016 Posts: 6,957member
    markiezyy said:
    Rayz2016 said:
    I'm guessing it will be free. 
    It's free when using a debit card but there is a 3% charge when using a credit card.
    Well that's the credit card companies charging, not Apple. My guess is that moving money from your Apple card(?) to the debit and credit cards held against your ITunes account will be free. 
  • Reply 12 of 26
    fallenjtfallenjt Posts: 4,056member
    eightzero said:
    Well...that was unhelpful. No discussion of the fees? And no, you can't send money to all your friends. Only those that have iOS11 running. What about the security of this and the Tos? If Apple receives a subpoena for records (say, from the IRS) does Apple have transaction records it can disclose? 

    Questions questions.
    How secure is iMessage, Apple Pay ? Do you need to ask that question about Apple security? For IRS records, no. Money receivers are responsible to report it to IRS. Consider that you're making cash income. Also, bank wiring records are there. Apple Pay is just a tool, not the source of the cash.
    watto_cobra
  • Reply 13 of 26
    bruckheimerbruckheimer Posts: 116member
    This is going to be a lot easier and real game changer for PayPal for competition.
    lostkiwi
  • Reply 14 of 26
    SpamSandwichSpamSandwich Posts: 33,407member
    Would a person be able to send funds to a stock broker account? Would they be able to send funds to their online cryptocurrency exchange account?
    edited June 2017
  • Reply 15 of 26
    bruckheimerbruckheimer Posts: 116member
    Good Question!
  • Reply 16 of 26
    lostkiwilostkiwi Posts: 640member
    I would like to know what happens if I try to send money to an iOS 11 user who doesn't/hasn't used ApplePay. 

    In NZ there is only one bank that does ApplePay so the odds of the recipient not having ApplePay are reasonable. 
    watto_cobra
  • Reply 17 of 26
    SpamSandwichSpamSandwich Posts: 33,407member
    It also seems that this could help facilitate easier blackmail and pressure tactic thefts. 
  • Reply 18 of 26
    StrangeDaysStrangeDays Posts: 13,108member
    SpamSandwich said:
    It also seems that this could help facilitate easier blackmail and pressure tactic thefts. 
    WTF. Seriously? Were you one of those who said TouchID would result in muggers cutting fingers off? Never happened. 
    caliwatto_cobra
  • Reply 19 of 26
    calicali Posts: 3,494member
    Finally!
    watto_cobra
  • Reply 20 of 26
    kevin keekevin kee Posts: 1,289member
    It seems like it works like Apple Pay: tokenisation  and biometric. Also it only works within Messenger so at least you need to know your friend's number or ID. I guess it is really secure. The fee is flat rate 3% confirmed if using credit card, it is free with debit card. It remains to see if this can bypass NFC ApplaPay so one can pay directly to a merchant like PayPal.
    watto_cobra
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