At the end of last month Bloomberg The report quotes Apple as acquiring NFC-based digital payments company Mobeewave, which states that retailers and small businesses are developing systems to accept contactless payments via the iPhone. .. Currently, the Cupertino giant has confirmed that it will roll out this feature in the United States later this year.
This feature is called “Tap to Pay,” and Apple recently announced it in a detailed official blog post. The company with new features “Millions of merchants across the United States, from small businesses to large retailers, use their iPhones to seamlessly use their iPhones for Apple Pay, contactless credit cards, debit cards, and other digital wallets. And it’s safe to accept. Requires additional hardware and payment terminals. “
According to Apple, the Tap to Pay option uses the NFC system built into the compatible iPhone to send and receive payments, allowing businesses to accept third-party digital contactless payments from customers. Does not require a payment terminal.In addition, Apple confirmed that Stripe will be one of the first payment platforms to support and offer new Tap to Pay features on iPhone... However, according to the company, other platforms will soon begin supporting contactless payment systems.
“As more and more consumers are using digital wallet and credit card payments, Tap to Pay on the iPhone accepts contactless payments, power, security and convenience of the iPhone.” Jennifer Bailey, VP of Apple Pay and Apple Wallet, said in a statement.
Now, when new features are available on iPhone models, Apple says: New features will only be available on iPhone XS and later iPhone models.. So this is a pretty important move by Apple to overtake its competitors. The API for this feature is already available in the latest iOS 15.4 Beta 2 update for compatible devices.
In addition, the company states that it designed the feature with the utmost focus on user privacy. Similar to Apple Pay, all contactless payments are encrypted and processed by an integrated Secure Element. In addition, the company says it will work closely with major payment platforms and app developers to provide this functionality to most US entrepreneurs, whether local, small business, or the modern retail sector. At startup, iPhone Tap to Pay works with contactless credit and debit cards. Major payment networks such as Mastercard, Discover, Visa and American Express..
So if you run a small business and have an iPhone, it’s already available on Samsung Pay and other payment platforms, but soon you’ll be able to receive digital payments in a much simpler process. So good news. .. According to the company, Tap to Pay on the iPhone will be available to select participating partners and their app developers who are planning to update iOS. Well, stay tuned for future information. Let us know what you think about the new features in the comments below.