PYMNTS MonitorEdge May 2024

Apple Cash Adds Virtual Card Numbers, Enabling Spending at More Merchants

Apple Cash

Apple Cash cards now have virtual card numbers, enabling users to securely spend their Apple Cash at merchants that don’t accept Apple Pay.

This change was included among updates to Apple Cash terms and conditions released Tuesday (April 9).

To view their virtual card number, users go to the Apple Cash card in the Wallet app, tap “…”, tap “Card Number” and then authenticate with Face ID, Touch ID or their passcode.

“Use your Apple Cash virtual number to make secure purchases online where Apple Pay isn’t yet available,” Apple said on a support page.

“Virtual card numbers are a way to keep your payment card information even more secure,” the page added. “For fraud protection, your 3-digit security code changes frequently with usage and over time.”

Users can also set up Safari AutoFill on their iPhone or iPad to easily access their Apple Cash virtual card number; manually enter their virtual card number on their computer; and request a new virtual card number if they suspect fraudulent activity, the support page said. 

In another change to the Apple Cash terms and conditions announced Tuesday, Apple clarified the identity verification requirements to register an Apple Cash Balance to be eligible for federal deposit insurance, noting that Federal Deposit Insurance Corp. (FDIC) insurance protects against the failure of Green Dot Bank, not Apple, as Apple is not a bank and does not hold the funds.

The company also clarified Green Dot Bank’s authority to debit or credit an Apple Cash Balance to correct errors, added information about the dispute process for unauthorized transactions, added information about transfers between an Apple Cash account and Savings available through Apple Card, and added information about cash-like transaction types that are not permitted by Apple Cash.

In another recent development around Apple Cash, it was reported March 6 that Apple unveiled an application programming interface (API) that enables users to see their balances on their Apple finance products.

The FinanceKit API allows developers to fetch transactions and balance information from Apple Card, Apple Cash and Savings with Apple.

In August, Apple said that Apple Card’s Savings account had surpassed the milestone of $10 billion in deposits made by users since the account’s launch the previous April.