Any money you send is funded from the credit or debit cards that are already stored on your in the Apple Wallet app or the Apply Pay Cash card on your device. When someone sends you money, it's automatically and securely kept on your Apple Pay Cash card. You'll need at least $10 loaded into Apple Pay Cash to use it, and you'll need to have two-factor authentication enabled.
The BBC has contacted Apple for comment.
That said, we could see the iOS 11.2 update emerge alongside the HomePod speaker in December. iOS 11.2 delivers SiriKit for HomePod.
How does Apple Pay Cash compare with competitors?
Time for Venmo, Square Cash, and PayPal to play defense? If you're not comfortable with pre-release software, you might want to hold off for now.
Every transaction requires verification, either through Face/Touch ID or password entry, and the full version of this new update will arrive when iOS 11.2 is released for all iPhone users later this year.
'You can also transfer your Apple Pay Cash balance to your bank account'. Since many people don't use iMessage, Microsoft has now released it as a standalone app for iPhone and iPad.
Additionally, users can simply deactivate the autocorrect feature until Apple rolls out its fix.
Apple has teased the service for some time, first revealing it back in June at WWDC.
Apple also uses machine learning to identify new words that are being used by its customers - for example, the name "Harambe", which entered common usage after the shooting of a gorilla in Cincinnati Zoo - and syncs those words to iOS and macOS devices.