You can send and receive the money from anyone on your iPhone (iOS 11.2)using iMessage. Yes, it is possible. It was only applicable on the USA. you can send the money up to $3000.
Set the Apple Pay Cash on your iPhone or iPad
Step 1: launch “Settings” -> click on “Wallet and Apple Pay”.
Step 2: Click on “Add Credit or Debit Card”.
Step 3: Turn on Apple Pay Cash. Then follow the instruction and accept the terms and conditions.
Send and Receive Money through iMessage
Step 1: Open “iMessages”.
Step 2: Select and open the conversation you want to send the money to someone.
Step 3: Click on the “App Store” symbol in the iMessage App Drawer.
Step 4: Then click on the “Dollar Sign” and enter the amount.
Step 5: Now, you can see the preview on an amount in the text box. Click on the “Send” button.
Step 6: If you send the money, you should authenticate using your touch ID or Face ID.
Note: If you are using the debit card for apple pay cash, you won’t pay the money for the transaction fee. If you are using the credit card, you have to pay 3% fee for the amount.
Add Money to Apple Pay Cash
Step 1: Launch “Settings” on your iPhone.
Step 2: Click on”Wallet and Apple Pay” and then click on the “Apple Pay Cash”.
Step 3: Click on “Add Money”.
Step 4: Now, you have to choose the amount and click on add button.
Step 5: Finally, you should authenticate using your touch ID or Face ID for add money to Apple Pay Cash.