A consortium of banks, including Bank of America, Capital One, Citi, Chase, TD Bank, U.S. Bank and Wells Fargo among others, recently partnered to create their own service called Zelle as part of their own bid for this lucrative market.
Apple is blaming the most recent IOS update for the glitch. This new variant of Apple Pay will now allow you to pay friends, family and phone contacts with an iMessage alone.
How does Apple Pay Cash work?"We know you knew what would happen with this update @Apple@AppleSupport" took center-stage on Twitter.
Some Apple device owners who have upgraded to iOS 11.1 have complained about a problem with their predictive keyboard that replaces the letter "I" with an "A" followed by a question mark inside a box. Apple Pay Cash is available only in the United States.
There, you'll be shown an option to add money, with the minimum being $10. There's no app to download, and you can use the cards you already have in Wallet. It's working on an update to fix it, but there's word yet when it will be released.
Apple's now on its second iOS 11.2 beta and we expect the company to release a few more as it adds additional polish ahead of the final release.
You can send or receive a minimum payment of $1 per message.
iPhone and iPad owners, however, are hoping that after a temporary fix, Apple would be able to release a version of iOS 11 with no major problems.
Make sure that you sign in to iCloud with your Apple ID on any device that you want to use to send or receive money. No fees apply for debit cards, but you'll have to pay an "industry standard" fee for credit cards.