Apple has announced it will introduce its Tap to Pay feature for iPhones later this year, which will allow businesses to use mobile devices as a terminal for contactless payments. This feature is for small businesses.
According to Bloomberg’s report, from 2020 Apple has purchased Moobewave startup focuses on building technology, and a rumor from the same outlet in January revealed it was getting close to rollout.
Now Apple confirms the feature can take payments from contactless credit and debit cards and other digital wallets.
We cannot use Tap to Pay yet, but iOS 15.4 beta 2 can use this feature with Supporting API on iPhone XS and later models.
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There are older iPhones with NFC, but at least for now, the iPhone 6, 7, and 8 models are not on the compatible list. Apple says Apple Pay does not know what is purchased or who is buying it.
At least the US is not taking touchless payments yet, but this could be a nudge in that direction. Apple has confirmed that including Google Pay, The Verge will support All EMV contactless payments, more options will become available, the familiar square card reader dongles could disappear.
Apple announces all merchants will use their phones with compatible payment processors as an acceptance system. Stripe is the first to support this feature in its Shopify point of sale app. Other platforms will follow later this year. Apple Stores in the US will also enable this feature.
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We are making it easier than ever for businesses of all sizes – from solopreneurs to large retailers to accept contactless payments and continue to grow their businesses.
Jennifer Bailey, vice president of Apple Pay and Apple Wallet said.