Shops will no longer require dongles or terminals to accept your payment.
Direct iPhone Contactless Payments were confirmed to be accurate. Apple has announced Tap to Pay for iPhone, a new feature that would allow companies to collect payments just by bumping their phones together (and the Apple Watch). Stores will no longer require dongles, terminals, or other devices to accept your payment.
The Technology requires an iPhone XS or later and, predictably, supports Apple Pay, but it also supports other digital wallets, third-party payment platforms, and contactless credit and debit cards. In the spring, Stripe plans to make Tap to Pay available to business customers, including Shopify's Point of Sale app. Other platforms and apps will be available later in 2022, according to Apple, with developers getting their first taste of Tap to Pay in a future iOS beta.
The technology will first be offered in the United States, but it will work with American Express, Discover, Mastercard, and Visa credit cards. Later this year, Tap to Pay on iPhone will be available at American Apple Stores.
Apple promises the same level of privacy and security that its tap-to-pay feature provides, including encrypted transactions. The corporation has no idea who is making a transaction or what they are purchasing.
This isn't an unexpected move. In 2020, Apple purchased Mobeewave, implying that it will employ the Canadian business to turn iPhones into payment terminals.
This adds to Apple's ever-expanding payment strategy, which includes Apple Pay, Apple Pay Cash, and the Apple Card. In principle, it's also a possible snub to Android: stores that use an iPhone-based payment system will be slightly less easy for Android users.
It's safe to assume that companies that have prospered on phone-based payment devices, like as Block's Square brand, will be affected. While many businesses rely on services rather than gadgets for revenue, they may need to support Apple's new feature in their apps to stay competitive.