Apple unveils new Tap to Pay feature
Apple has announced its plans to release a new Tap to Pay feature, enabling customers to purchase goods from merchants by simply tapping their phones together.
The move is aimed at small businesses.
Subscribe to TRBAs a result, iPhone’s will essentially become point-of-sale terminals and merchants can use their phone to securely accept Apple Pay, contactless credit and debit cards, with no additional hardware or payment terminal needed.
The tech giant said Stripe will be the first payment platform to offer the service, including the Shopify Point of Sale app this spring. Additional payment platforms and apps will follow later this year.
Tap to Pay will use the iPhone’s NFC chip and will also accept Apple Pay, Visa, Mastercard, American Express and Discover.
The company said the feature would be accessed through third-parties apps, to be released later this year.
Other payment companies and app developers will be able to develop apps that access the tap-to-pay feature in the new version of iOS.
“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,” Apple vice president of Apple Pay and Apple Wallet Jennifer Bailey said.
“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.”
Stripe chief business officer Billy Alvarado added: “Whether you’re a salesperson at an internet-first retailer or an individual entrepreneur, you can soon accept contactless payments on a device that’s already in your pocket: your iPhone.”
“With Tap to Pay on iPhone, millions of businesses using Stripe can enhance their in-person commerce experience by offering their customers a fast and secure checkout.”
