Apple announced today that Apple Wallet’s Tap to Pay will be available on the iPhone. Millions of retailers across the United States will be able to utilize their iPhones for transactions as a result of the new feature. Users will be able to accept contactless debit and credit, Apple Pay, and other digital wallets with a single tap on their iPhone, without the need for any extra hardware or payment terminal.
Payment platforms and app developers will be able to incorporate Tap to Pay on iPhone into their iOS apps and provide it as a payment option to their business clients. This spring, Stripe will be the first payment platform to provide Tap to Pay on iPhone to its business customers, which will include the Shopify Point of Sale app. Later this year, other payment systems and applications will be available.
Apple Wallet Will Make Transactions Easier
Merchants will be able to unlock contactless payment acceptance through an Apple Wallet-supported iOS app on an iPhone XS or later device once Tap to Pay on iPhone is ready. The merchant will ask the consumer to hold their Apple Watch or iPhone near the retailer’s iPhone to pay with Apple Pay, contactless credit or debit cards, or other digital wallets, and the transaction will be completed securely using NFC technology.
Later this year, other payment systems and applications will be available on Apple Wallet.
Tap to Pay on iPhone does not require any additional hardware to take contactless payments so that businesses may accept payments from anywhere they do business. Apple Pay is now accepted by more than 90% of US businesses. With this new feature, practically any business, large or small, will be able to offer their customers the opportunity to tap to pay on their iPhone at checkout.