iPhone users will have the ability to transfer money by holding their phones together when the smartphone’s new operating system, iOS 18, becomes available in the fall, tech giant Apple said in a Monday news release.
Users will transfer money through Apple Pay, a digital wallet that stores payment methods such as credit or debit cards and works via an iPhone app.
The iPhone has for years let users transfer data between phones through a simple touch, and iPhone users can pay through a touch with Apple Pay. The upcoming operating system will be the first to let two people transfer money through the touch of a phone.
Source: Payments Dive