Apple has filed a trademark for “APPLE PAY CASH” with the European Union Intellectual Property Office (EUIPO), hinting at its imminent arrival. Apple Pay Cash is a feature expected to be introduced with iOS 11, allowing customers to make peer-to-peer payments using iMessage.
The trademark is described as a “computer software for use in connection with electronic payment and funds transfers.” Apple Pay Cash will be one of the most talked about features in the coming days as it brings a massive upgrade to Apple Pay. With Apple Pay Cash, the company will finally allow individual customers to send money to each other. Facebook Messenger and a handful of other social media apps already offer a similar feature.
As for Apple Pay Cash, users will reportedly authenticate the payment using Touch ID or even the Face ID sensor. The money is stored virtually which can then be viewed on the Wallet app. Since we’ve only been able to uncover some parts of this particular feature, there’s no word on what else will be in store for us with Apple Pay Cash.
It is being rumored that Apple will require users to take a picture of their Driver’s License or any photo ID before setting up this new feature. This could be a handy addition to the service with security and privacy in mind. Apple is expected to make this feature official with iOS 11 on Sep 12. The event will also be host to the new iPhone 8, along with the anticipated refreshes to the 2016 iPhone models.
[Via LetsGoDigital, MacRumors]