If you’re part of Apple’s iOS beta program, you can start testing out Apple Pay Cash. The feature arrived in the latest beta of iOS 11.2, a release that also promises to fix a frustrating autocorrect bug.
Originally introduced at WWDC in June, Apple Pay Cash is a service that allows iOS users to send and receive money. The service aims to challenge Square Cash and Venmo, which have been available on the market for years.
The difference with Apple’s service is it’s exclusivity to iPhone users and works directly through Apple’s Messages app. For now, the feature is available only for customers in the U.S.
To send or receive money through Apple Pay Cash, users are required to have Apple Pay already setup. Money that’s sent using a debit card won’t be subject to any fees, but credit cards will be charged an “industry standard” fee.
Apple Pay Cash also includes a virtual card that allows users to instantly use the money, either online or at retailers that support Apple Pay. If you don’t want to use an Apple Pay Cash card, you can transfer the money out to your bank.
You can see Apple Pay Cash in action right here.