Apple Pay Expands to New Banks Before Launch of P2P Money Transfers

July 6, 2017, Written By Lynn Oldshue
Apple Pay Expands to New Banks Before Launch of P2P Money Transfers

Apple Pay made another big expansion as it prepares for the launch of its P2P payment platform. The mobile wallet added 21 new banks in the United States, along with new banks in Italy, France and Spain.

Last month, Apple announced some exciting innovations coming with iOS 11 this fall. One feature was the integration of Apple Pay into iMessage. Users will be able to send money to one another directly through their chats, similar to PayPal’s money transfer service on Facebook Messenger.

Apple also plans to launch Apple Pay Cash in the fall. This is a digital debit card that holds funds from P2P transfers. The card itself can be used for Apple Pay transactions, or money from the card can be sent to a linked bank account.

Apple Pay is now available in 16 countries. The P2P payment program will first be available in the United States, but it could reach other countries in the near future.

An early release beta of iOS 11 is currently available, but it does not offer all of the features that the new operating system will have. As with most beta launches, the system may have some bugs and glitches that Apple will work out before the official launch.

The information contained within this article was accurate as of July 6, 2017. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
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