Apple Cash • Hacker News Board

Re: Apple Cash

#21

Post by relyks » Mon, May 23, 2022, 5:08 AM UTC

behnamoh wrote: post #12

interesting to see Apple venture into SERVICES rather than PRODUCTS. it’s typical “milking” strategy: get as much as you can from the success of iphone before it’s too late. as long as these services keep bringing cash to the company, I don’t think Apple will introduce yet a new category of products, such as Apple Glasses.

I think they’ll keep introducing new services and products. It’s actually in Apple’s best interest to venture into as many different services, products, and new revenue streams as humanly possible, so that Apple can continue growing. Stagnation will lead to unhappy shareholders…

Re: Apple Cash

#22

Post by iancarroll » Mon, May 23, 2022, 5:16 AM UTC

senectus1 wrote: post #10

looks like a digital debit "gift card" system. Smart. Its a clever way to deal with legal boundaries on transferring money. Should be interesting to see them get it past Australian regulations.

Not sure about AU, but in the US, Apple is a registered money transmitter[0] because of this service. Doesn't seem like they are avoiding anything compliance wise.

[0] https://dfpi.ca.gov/money-transmitter-division/directory-of-...

Re: Apple Cash

#23

Post by supernova87a » Mon, May 23, 2022, 5:23 AM UTC

Can I send US$ to someone in a different country? How does that work?

Re: Apple Cash

#24

Post by duskwuff » Mon, May 23, 2022, 5:28 AM UTC

user_named wrote: post #19

duskwuff wrote: post #16

Earlier quoted context omitted.

> Why can't I Pay with the Cash in my Wallet. Or can I? You can. In fact, if you're using Apple Card, the cash-back rewards show up as Apple Cash.

Yeah I was guessing that's possible. I mean that the separation of these into separate products seems confusing when they're actually one.

> when they're actually one.

They are not. Apple Cash does not require the user to have an Apple Card.

Re: Apple Cash

#25

Post by tcmb » Mon, May 23, 2022, 5:29 AM UTC

From the FAQ: "send and receive money in Messages or Wallet. The money you receive appears on your Apple Cash card in Wallet."

Can I get the money out of Apple Cash, except for spending it via Apple Pay? Can I withdraw the money to a bank account? If not, I find it a bit limiting. If someone sends me money via Paypal, I can transfer it to my bank account and withdraw it from an ATM, or use it to buy stocks, or donate it to some organization that doesn't take Apple Pay payments...

Re: Apple Cash

#26

Post by kalenpw » Mon, May 23, 2022, 5:30 AM UTC

tcmb wrote: post #25

From the FAQ: "send and receive money in Messages or Wallet. The money you receive appears on your Apple Cash card in Wallet." Can I get the money out of Apple Cash, except for spending it via Apple Pay? Can I withdraw the money to a bank account? If not, I find it a bit limiting. If someone sends me money via Paypal, I can transfer it to my bank account and withdraw it from an ATM, or use it to buy stocks, or donate…

Yes, you can transfer it to your bank. Works just like Venmo or PayPal

Re: Apple Cash

#27

Post by tcmb » Mon, May 23, 2022, 5:32 AM UTC

The link to the 'Apple Cash setup support page' is a 307 temporary redirect to the Apple Pay page for me. Not sure if this is due to locale, I don't have Apple Cash in my Apple Wallet settings as well...

Re: Apple Cash

#28

Post by gnicholas » Mon, May 23, 2022, 5:38 AM UTC

user_named wrote: post #14

A bit of a product marketing snafu by Apple if I may say. 1. Apple Cash is apparently not cash, nor a wallet, but a card that is stored inside wallet. 2.There is already Apple Wallet, Apple Pay, Apple Card. It looks to me that they're all the same. Why can't I Pay with the Cash in my Wallet. Or can I?

Agreed. It's like the Apple TV moniker, which refers to hardware, software, and a subscription service.

Re: Apple Cash

#29

Post by M4v3R » Mon, May 23, 2022, 5:41 AM UTC

tcmb wrote: post #25

From the FAQ: "send and receive money in Messages or Wallet. The money you receive appears on your Apple Cash card in Wallet." Can I get the money out of Apple Cash, except for spending it via Apple Pay? Can I withdraw the money to a bank account? If not, I find it a bit limiting. If someone sends me money via Paypal, I can transfer it to my bank account and withdraw it from an ATM, or use it to buy stocks, or donate…

The article answers your question (yes, you can) and links to a support article with more information: https://support.apple.com/en-us/HT207882

Re: Apple Cash

#30

Post by warning26 » Mon, May 23, 2022, 5:42 AM UTC

braingenious wrote: post #13

To be clear, this is in practice basically a competitor for Venmo/Cash App/Paypal, but built into your iphone? I only did a cursory glance at it but is there an Android app planned for this? In my experience, people want to send money to one another across different mobile OSes.

Yup, pretty much.

I can't imagine how Apple concluded that "It's exactly like Venmo in every way, but it only works for people with iPhones!" would make a particularly compelling value proposition.