CUPERTINO, Calif.—Apple has soft-launched Apple Pay Cash beta—direct, person-to-person payments within an iMessage.
The feature, announced earlier this year, allows users to send and receive cash inside the Messages app on iPhones. An Apple Pay button appears in the apps section of Messages that allows users to initiate a payment, Tech Crunch reported.
Payments can also be triggered by simply asking for money in a message or tapping on a message sent by someone else asking for money.
The beta is available for U.S. customers only with iOS devices on 11.2 or later and with two-factor authentication set up on their Apple ID. The source of funding is any debit or credit card currently added to Apple Pay, Tech Crunch explained.
Apple will charge no fees for money that is funded via debit cards and an “industry standard” fee for credit cards, likely in the few percent, Tech Crunch said.