Apple is continuing its push into fintech services with a new feature coming to Apple Cash. Apple Pay Later was made available to select users in the US in March, and the company is back with another feature reminiscent of its installments service: recurring payments with Apple Cash.
Users with Apple Cash enabled will have the ability to set up recurring payments to other Apple Cash users. The recurring payments can be sent out on a weekly, biweekly, or monthly basis. Apple says that the feature is helpful for parents to set up allowances for their children, or to repay friends and family for frequent joint expenses like rent.
Set up recurring payments with Apple Cash. 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.Apple
The feature is part of Apple’s wider push into expanding its services that also includes features like Apple Music Sing with Continue Camera for a more dazzling karaoke experience. The company says that the feature will be made available this fall without stating whether it will be part of the initial iOS 17 release or a later update. Like Apple Cash, recurring payments are available to users in the US only.
iOS 17, alongside tvOS 17, watchOS 10, macOS Sonoma, and iPadOS 17, will be available later this fall, with members of Apple’s developer program having access to beta versions of all the new updates announced this week.