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Apple Cash Adds Recurring Payments

Apple Cash users will be able to set up weekly, biweekly, or monthly payments from its Apple Cash digital card

Apple Cash Adds Recurring Payments

Apple announced it would be adding support for recurring payments from its Apple Cash digital card this autumn with the arrival of iOS 17.

The new function will enable Apple Cash users to set up weekly, biweekly, or monthly recurring payments. Some potential use cases are parents paying allowances, or roommates sharing regular joint expenses, such as rent payments.

The customers will also get an opportunity to automatically top up their Apple Cash balance from designated bank accounts when it runs low.

Apple Cash is a digital card in-built in Apple Wallet. It is designated for both adults and children, so the tool is often utilized among the members of a household. Funds stored in Apple Cash can be spent in stores, online, and in apps via Apple Pay. Besides, Apple Cash users can send P2P transfers to their friends and family either from Messages or from Wallet.

Additionally, the customers can get daily cashback with an option to automatically transfer it to a Savings account.

Earlier this month, Apple acquired AR startup Mira, having unveiled its new VR headset with the embedded innovative iris biometrics technology.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.