Apple Pay’s Expansion and Apple Pay Cash

At the Money 20/20 conference earlier this week, Jennifer Bailey, Apple’s VP of Apple Pay, revealed some new stats about the service and announced an expansion to four new major markets. Ingrid Lunden has the full story at TechCrunch, but this part about Apple Pay Cash (the peer-to-peer payment feature announced at WWDC that hasn’t launched yet) stood out to me:

When Apple Pay Cash is turned on, for example, it will operate like Venmo, allowing users to transfer money quickly to each other via iMessage, Siri and other channels — a service that “thousands” of Apple employees are now already using in a closed beta before the service is turned on more widely later this year in an iOS 11 update.

But in addition to that, users will also be able to take that money and spend it directly at retailers and others that accept Apple Pay.

So you’ll not only be able to send money to other people over iMessage, but Apple Pay Cash will effectively be its own card that can be used at any physical store or website that supports Apple Pay (like our own Club). I’m intrigued.