The card is part of the new Apple Pay functionality, which allows U.S. customers to quickly, easily and securely send and receive money among friends and family. When Apple customers receive money on a supported device, the money is added to their new Apple Pay Cash card. They can use the money instantly to pay someone or to make purchases using Apple Pay in stores, apps and on the web.
Apple Pay Cash works on the iPhone SE, iPhone 6 and later, iPad Pro, iPad (5th generation), iPad Air 2, Apple Watch and iPad Mini 3 and later.
Apple Pay Cash was launched with the iOS 11.2 update that first appeared this past weekend. The update will also add support for faster wireless charging for the 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.
In October, Discover announced that its cardmembers can redeem cashback bonuses for a statement credit through Apple Pay.
“Cashback bonus redemption through Apple Pay can happen in just two touches for Discover cardmembers,” said Szabolcs Paldy, vice president of digital for Discover. “We are committed to providing simple and valuable solutions to our customers wherever and whenever they need them. Customer experience hinges on embracing mobile-first technologies like Apple Pay, and this new ability will make cashback bonus redemption even easier and more convenient for our cardmembers.”