Apple has released three short videos showing how Apple Pay Cash works.
Apple Pay Cash is so far only available in the USA and describes the function to send money to each other via iOS message app – similar to PayPal only without extra app. You can also use the money to pay in your shop – thanks to Apple Pay.
The whole thing is quite simple and the rest of the world should be happy to enjoy this feature. In addition, this should lead to a strong competition for PayPal due to the high distribution of Apple devices.