Apple proudly announced a new "Tap to Pay" feature. The updated contactless payment allows users to pay from their iPhone to third parties and other payment platforms. This contactless way of sending payments will be expected to work for credit and debit cards as well as other digital wallets.
Apple Announces 'Tap to Pay' Feature
Apple's contactless payment app will benefit a lot of users, especially those who have online businesses because it accepts payments with a single tap (that's why it is called Tap to Pay). What makes the feature more interesting is that the company will be teaming up with "third parties and making the platform available to app developers and other payment platforms."
In the same announcement, the company said that Stripe, a payment service, would be the first payment platform to offer Tap to Pay on iPhone, including via an update to the Shopify Point of Sale application.
New Feature Won't Be iOS Native
This means that the new feature won't be a native iOS feature as the company is "opening the NFC chip up in the iPhone" towards other third-party payment platforms for them to create applications that allow Tap to Pay technology.
According to the story by 9to5Mac, the "Tap to Pay" feature is expected to launch sometime in the United States "late this year." Once the platform finally opens up, merchants can accept "contactless payments" through a supporting iOS app with an iPhone XS or later models.
iPhone and Apple Watch to Use Apple Pay
The feature would work with customers holding up their iPhone or Apple Watch to use Apple Pay with their contactless credit or debit card or other digital wallets near the merchant's iPhone. Payments will then be made securely with the use of NFC technology.
Apple is now promising that the company will be working closely with other leading payment platforms and app developers stretched across both the payments and commerce industry for them to offer Tap to Pay on iPhones as well as millions of other merchants in the US.
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As of the moment, however, there is still no update as to whether the feature will be available outside of the United States. A landing page was already launched by Stripe for the new feature, allowing businesses to "express their interest in Tap to Pay on iPhone for Stripe Terminal."
Bloomberg initially reported the feature sometime early this year, shortly after Apple bought Mobeewave for $100 million in 2020. Mobeewave is a startup that started developing a way to "accept card payments on smartphones via contactless technology."
Apple announced that the Tap to Pay on iPhone will be launching on the "upcoming iOS software beta." In addition, the feature will become available to participating payment platforms and their app developer partners through the new SDKs.
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Written by Urian B.
