Person-to-Person Payments with Apple Pay Cash
Apple Pay Cash® is the newest person-to-person payment method that allows you to send and receive payments directly through text message. This means you can pay your friend back for the Uber he ordered last weekend, or send your roommates rent money by simply texting it to them. When you link your Renasant accounts to Apple Pay Cash, you can use your phone like a next-generation wallet that not only handles transactions, but also holds “cash.”
Whenever you receive money via text message or add money directly from your Renasant account, you have a standing balance in your wallet that can be used to buy from any retailer that accepts Apple Pay. You can also choose to deposit that balance directly to your Renasant account.
This same balance is what is used to send payments via text message, but if your balance is not enough to cover the payments you are sending, it will pull the remaining payment from your preferred Renasant Debit MasterCard. Apple Pay Cash eliminates trips to the ATM by completely removing cash from the equation and saves you the hassle of handling awkward transactions with friends and family.
The great thing about Apple Pay Cash with Renasant is that it works across most Apple devices, which are used by more than a third of the country right now. It’s the latest installment in the mobile person-to-person payment trend that has grown exponentially in the past few years. Building off wildly successful predecessors, Apple Pay Cash is the newest and most streamlined solution in a series of popular mobile payment applications.