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iPHONE TO ACCEPT TAP-TO-PAY WITHOUT MORE HARDWARE

AppleMagazine

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February 11, 2022

Apple is expanding the iPhone’s capabilities to accept contactless payments, making it easier for merchants to conduct tap-to-pay transactions without having to buy additional hardware.

iPHONE TO ACCEPT TAP-TO-PAY WITHOUT MORE HARDWARE

It will also give Apple a competitive edge in the growing world of contactless payments, in which the iPhone, as well as Apple Pay, play a dominant role by effectively turning the iPhone into a point-of-sale terminal.

The iPhone has been used as a contactless way to pay for goods and services since Apple Pay launched in 2014. But it required merchants to have their own point-of-sale hardware in order to accept contactless payments. Shares of payment platform company Block, formerly known as Square Inc. with its well-known iPhone dongle used to accept payments, fell after Apple’s announcement.

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