Making regular, reoccurring payments will soon be a feature of Apple Cash. This will make the payment system useful for rent or allowances or other financial transactions that happen each week or month.
Plus, the system will be able to automatically bring in more money when needed.
Apple Cash will dole out regular payments
Apple Cash can be used to make payments from an iPhone to stores, websites and apps via Apple Pay. It’s similar to a pre-paid debit card, but entirely digital.
Currently, it can only be used for one-time transactions. But Apple announced Wednesday that support for reoccurring payments will be added later in 2023.
“Apple Cash users will be able to set up weekly, biweekly, or monthly Apple Cash payments, making it even easier for parents to pay allowances or for users to pay back friends and family for regularly shared expenses, such as rent payments,” said Apple in a statement.
Top up the total, too
Making regular payments, especially for rent, raises the potential for draining the money stored in the digital debit card.
That’s being taken care of. Users will have the option to automatically top up a balance when it gets low through the Apple Wallet app.
Reoccurring payments will become a feature of Apple Cash with the release of iOS 17, iPadOS 17, macOS Sonoma and watchOS 10, which are expected in fall 2023.
