Apple enters a market with the peer-to-peer payment system Apple Pay Cash that can become a killer of similar services due to its’ simplicity.

From 5 December 2017 Apple owners that live in the USA have the ability to reap benefits from a brand new Apple feature – Apple Pay Cash. Apart from just conversing with others with the help of iMessage or paying for goods and services using their mobile payment services, they now have a unique opportunity. Apple Pay Cash allows to pay or get paid during users’ daily communication.

The working principles of it are quite untroublesome. Exchange of money happens in iMessage and your balance of the aforementioned peer-to-peer transaction exists on a virtual card. Basically, Apple Pay Cash serves as this card and exists in the Wallet app. What can you do with the received payment? You either can make a money transfer to the bank account or spend the recieved money using the Apple Pay anywhere it is an appropriate type of payment. Moreover, you should install  iOS 11.2 , have two-factor verification enabled on your Apple ID account and live in the USA(the requirement is temporary) for the whole system to work.

But does the Apple Pay’s new feature sound original? Surely, the idea of peer-to-peer option isn’t fresh. Venmo and Square Cash has taken the niche quite a long time ago. The main question is whether Apple would surpass similar companies as it enters the market or not. The Apple Pay Cash may seem tempting for Apple customers as they don’t have to install or download anything. The reason is that Apple Pay Cash is build into the iOS operating system. Actually, the Apple’s trick of building the features of competitors into their operating system has destroyed numerous apps. Obviously, it must be quite threatening for their rivals.

Nevertheless, the advantage is rather ambiguous as this feature works only on iOS. Venmo’s services,on the contrary, are available for both Android and iOS users as well.  What is more, Apple Pay Cash is not that advanced in reminding of the payment done. But Venmo has an open interactive system of doing so. Certainly, Apple Pay Cash has a peculiarity that makes it stand out from the crowd – iMessage. Due to its’ existence users don’t have to make any effort as they have everything on iMessage. It serves as a silver platter for money transfers during daily routine communication.

To make a conclusion, Apple Pay Cash may become a threat for already existing person-to-person payment systems. They can’t boast of having a native messaging app where the money exchange function “lives”.  Moreover,only Apple has the whole service just build up in the operating system. Surely, rivals also have some something up their sleeves and are truly  reliable and time-proven.  Undoubtedly, Apple Pay is not yet well-tried and has several drawbacks and shortcomings. Altough,it still may play the role of a worthy adversary for such peer-to-peer payment services as Venmo, Square Cash and PayPal.

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