Apple preps Tap to Pay on iPhone launch
Apple is set to introduce a new Tap to Pay iPhone feature that turns the device into a contactless payment terminal.
Later this year, US merchants will be able to accept Apple Pay and other contactless payments, such as credit cards and debit cards, by using an iPhone and a partner enabled iOS app.
Tap to Pay on iPhone will be available for payment platforms and app developers to integrate into their iOS apps and offer as a payment option to their business customers.
Stripe will be the first payment platform to offer Tap to Pay on iPhone to their business customers, including the Shopify Point of Sale app this spring.
“As more and more consumers are tapping to pay with digital wallets and credit cards, Tap to Pay on iPhone will provide businesses with a secure, private, and easy way to accept contactless payments and unlock new checkout experiences using the power, security, and convenience of iPhone,” says Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet.
“In collaboration with payment platforms, app developers, and payment networks, we’re making it easier than ever for businesses of all sizes — from solopreneurs to large retailers — to seamlessly accept contactless payments and continue to grow their business.”
Once Tap to Pay on iPhone becomes available, merchants will be able to unlock contactless payment acceptance through a supporting iOS app on an iPhone XS or later device.
At checkout, the merchant will prompt the customer to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the merchant’s iPhone, and the payment will be securely completed using NFC technology.
No additional hardware is needed to accept contactless payments through Tap to Pay on iPhone.
A press release notes that Apple Pay is accepted at more than 90% of US retailers.
Tap to Pay on iPhone will also roll-out to Apple Store locations in the US later this year.
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