It will enable businesses to accept payments just through iPhones.
After conducting an early access programover the previous few months, Square has now officially unveiled its Tap to Pay solution for the iPhone. As a result, retailers all around the US may now accept payments from clients using simply their iPhones and the company's Point of Sale software. They do, however, not need to purchase any additional hardware in order to access the feature; they simply need to have a more recent iPhone; the earliest device that can run the feature is the iPhone 11.
Sellers merely need to complete the sale on Square's app, just like with any other point-of-sale system, and then customers may pay with contactless credit and debit cards, Apple Pay, or other digital wallets. Square is hopeful that the solution will make doing business in person simple for even tiny merchants. Apple stated in its announcement that it neither stores credit card numbers on the sellers' device nor on its servers, addressing a possible security worry.
In June, Square made its initial announcement that it will enable Apple's Tap to Pay on iPhones, which the tech giant had been spotted testing at its visitor centre in May. In order to allow a few shops and sellers to test it out, it launched its early access program at the same time. One of the participants claimed that it improved their ability to serve younger clients who preferred using contactless cards and digital wallets for payment.
The business announced that the functionality would go live at some point later this year at the time. It did not, however, provide a specific release date. Now that Square, a U.S.-based payments network, has rolled out the function, businesses may accept payments on iPhones using Tap to Pay.
U.S. shops will be able to accept payments using simply an iPhone thanks to a feature that will be included in the Square Point of Sale (POS) iOS app. No additional hardware will be needed for Tap to Pay on iPhones, and Square won't charge merchants extra to implement the service.
Speaking about the function, Square's Head of Financial Services, David Talach, said: “Square is focused on ensuring vendors of all sorts and sizes have the technology needed to impress their consumers and never lose a transaction. Without the need for an additional payment device, Tap to Pay on the iPhone gives businesses a new level of accessibility so they can start accepting payments in a matter of minutes and processing transactions in a matter of seconds from anywhere in the store or on the go.”
The iPhone XS and newer models include Tap to Pay, which works with the majority of major networks like American Express, Discover, Mastercard, and Visa. According to a news statement from Square, neither the iPhone nor Apple's servers will keep the credit card numbers of users who use Tap to Pay. The information pertaining to the retailer and the client will be protected thanks to built-in security mechanisms on iPhones.