Apple announces Tap to Pay feature on iPhone for businesses in US
Last month, a report emerged 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 new finance-focused feature on the iPhone is called Tap to Pay which is designed for merchants in the US. The feature will enable small businesses to large retailers to use their iPhone to complete transactions using Apple Pay, contactless credit and debit cards, and other digital wallets with a simple tap.
How Apple’s “Tap to Pay” Feature Works
With Tap to Pay, merchants can simply hold out their iPhone and ask the customer to tap their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the merchant’s iPhone. Using NFC technology, the merchant’s iPhone will authenticate and complete the transaction seamlessly.
To be offered as a payment option, Tap to Pay will need to be integrated by payment platforms and app developers into their iOS app. The first payment platform to offer the feature will be Stripe, and it will be available in the Shopify Point of Sale app this spring. More leading payment platforms and app developers are expected to offer the feature soon.
Tap to Pay on iPhone will be available to participating payment platforms and their app developer partners as a SDK in an upcoming iOS software beta.