Apple Pay

New iOS Release Includes Apple Pay Cash

After months of speculation, Apple Pay Cash is out in the wild. The new feature came with the iOS 11.2 update that first appeared overnight this weekend. Though a middle-of-the-night upgrade is somewhat out of step with Apple’s standard operating procedure, it seems a bug forced Cupertino’s hand some.

The bug that pushed the schedule forward, according to Engadget reporting, was affecting how the iPhone was displaying dates. But more than fixing a problem, the 11.2 update also adds Apple Pay Cash, Apple’s peer-to-peer (P2P) payments system à la Venmo or Zelle.

The update will also add support for faster wireless charging for users with iPhone 8 and X models. There are also new emojis for all — and a sports section added to the TV app that curates live game streaming via the ESPN mobile app.

It has been a rough month for Apple in terms of software issues, and there is a lot riding on this update to smooth over frequent glitch complaints among iOS users.

Also a quick note for anyone who is excited to give Apple Pay Cash a test drive this morning — according to reports, Cash isn’t actually up and running as a feature just yet. We’ll keep you posted about when they actually flip it on for use.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.