Apple has released watchOS 4.2 for the Watch. The software update will be available as a free update and is required to send and receive money, and use Apple Pay Cash on any Apple Watch model, according to Apple's website.
Apple Pay can also be used to make payments on the iPhone and iPad. With the watch, you use the debit and credit cards already added to Apple Pay, without having to install an app or create another account.
Shares of Apple are higher in afternoon trading.
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