Jun 09, 2017 08:20 AM EDT
Apple has now integrated Apple Pay in the iMessage app. Apple users can send and receive money from their friends using Apple's texting services.
Apple announced this news as a part of iOS 11. Apart from enabling peer to peer payments in a single tap, this feature would also let the user spend the balance using a virtual Apple Pay card.
The integration will also be able to recognize texts and automatically notify and prompt one to pay the exact said amount by simply tapping on the Apple Pay button. As soon as one authenticates the payment using TouchID, the other person would immediately receive the sum in their Apple Pay account.
As reported by TechCrunch, when one receives payment from someone via Apple Pay, the sum is stored in one's Apple Pay virtual card for future use. This money can be cashed out to one's bank account or be spent in offline and online stores that accept Apple Pay payments.
It was a smart move by Apple to issue every iOS user, as like any other payment company, Apple would make more money when users hold and spend money from this card instead of immediately cashing it out to their bank accounts, says Social Barrel.
"Apple Pay will transform your daily routine, from making your commute easier and more convenient than ever with Suica on your iPhone 7 and Apple Watch Series 2, to using your favorite cards to make secure and private purchases with a single touch.", the director of Apple said.
Integrating Apple Pay into iMessage now puts Apple Pay in competition with PayPal, Venmo and Square Cash, which offer such services to users of chat apps. It might have an upper hand because of the fact that Apple owns both iMessage and Apple Pay.
Ever since its launch, Apple Pay has expanded into new aspects and integrating Apple Pay into iMessage might be an appreciated move by Apple. It has been launched in New Zealand, Japan, Russia, and China.
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