Last month, we reported that Apple is working on NFC-enabled technology that will essentially let iPhone users receive card payments seamlessly with their device acting like a Point of Sale (POS) terminal for contactless debit and credit cards. Now, Apple has officially announced this feature.
The company has announced that the new Tap to Pay feature will debut in spring with Stripe and will empower millions of merchants across the US, from small businesses to large retailers, to use their iPhone to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets through a simple tap to their iPhone.
Apple is not keeping the functionality exclusive to its platform and has announced that the feature will be available for third-party payment platforms and app developers to integrate into their iOS apps and offer as a payment option to their business customers.
Jennifer Bailey, the vice president of Apple Pay and Apple Wallet stated that “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.” She further added, “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 the functionality is made available, users of iPhone XS and above will be able to access the Tap to Pay feature through a supported iOS app.
For now, Stripe has launched a landing page for this new feature and is allowing businesses and individuals to participate in the beta testing of the functionality.
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