File – The Apple iPhone 13 lineup will appear on the iPhone 13 mini, foregroud, iPhone 13, iPhone 13 Pro, and iPhone 13 Pro Max on the first day of sale in New York on Friday, September 24, 2021. From left to right, background. On Tuesday, February 8, 2022, Apple announced that it will extend the capabilities of the iPhone to accept contactless payments, making it easier for sellers to make tap-to-pay transactions without purchasing additional hardware. Did. (AP Photo / Richard Drew, File)
New York (AP) — Apple announced on Tuesday that it will extend the capabilities of the iPhone to accept contactless payments, making it easier for merchants to make tap-to-pay transactions without purchasing additional hardware.
It will also give Apple a competitive edge in the growing contactless payment world, where the iPhone and Apple Pay play a dominant role.
The iPhone has been used as a contactless payment method for goods and services since Apple Pay was launched in 2014. However, to accept these payments, the seller had to have their own Point of Sale hardware.
Prices for these devices range from $ 50 for contactless payment devices next to the cashier to devices that cost hundreds of dollars and allow employees and store owners to accept payments anywhere in the store or restaurant. It was various.
Due to the cost, in many cases only large retailers have mobile tap-pay devices. For example, Apple retail employees are accepting contactless payments in stores using devices that are bolted to the iPhone.
According to Apple, the iPhone will be able to act as a payment terminal in its own right, without any additional hardware. The Tap-to-Pay feature uses the iPhone’s existing NFC chip that was used to send payments to payment terminals. It will be available to developers this spring via an iOS software update. It is the responsibility of the developer and payment service company to add functionality to the POS software.
According to Apple, Stripe will be the first point-of-sale company to use the iPhone as a Tap-to-Pay payment device via the Shopify app.
Contactless or tap-to-pay payment systems have long been popular outside the United States as the default payment method for goods and services. However, tap-to-pay has grown in popularity in recent years, especially during a pandemic where customers and merchants want to avoid physical interactions with cash and cards as much as possible.
According to Apple, this feature is only available on the iPhone XS and later, not on the iPad.
Apple says the iPhone will accept tap-to-pay without adding hardware | WGN Radio 720
Source link Apple says the iPhone will accept tap-to-pay without adding hardware | WGN Radio 720
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