Apple today announced plans to introduce a new “Tap to Pay on iPhone” feature that will allow owners of compatible iPhones to accept payments via Apple Pay, other digital wallets, and “tap to pay” credit and debit cards. no additional hardware needed.
Tap to Pay on iPhone will be available for payment platforms and app developers to integrate into their iOS apps and offer as a payment option to their business customers. Stripe will be the first payment platform to offer Tap to Pay on iPhone to their business customers, including the Shopify Point of Sale app this spring. Additional payment platforms and apps will follow later this year.
Currently, contactless payments are made on an iPhone with additional hardware like the Square Reader, which connects to the iPhone wirelessly or through an iPhone’s Lightning port or headphone jack.
The new feature, set to debut later this year in the United States, will allow merchants with an iPhone XS or newer to accept contactless payments through supported iPhone apps. The merchant will simply hold out their iPhone, and the customer will hold their iPhone, Apple Watch, another digital wallet, or contactless credit card near the device and a secure payment will be made via NFC technology.
“As more and more consumers are tapping to pay with digital wallets and credit cards, Tap to Pay on iPhone will provide businesses with a secure, private, and easy way to accept contactless payments and unlock new checkout experiences using the power, security, and convenience of iPhone,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “In collaboration with payment platforms, app developers, and payment networks, we’re making it easier than ever for businesses of all sizes — from solopreneurs to large retailers — to seamlessly accept contactless payments and continue to grow their business.”
Apple Pay is already accepted by more than 90% of US retailers, and with this new capability, virtually every business, big or small, will be able to allow their customers to Tap to Pay on iPhone at checkout. Tap to Pay on iPhone will also roll out to Apple Store locations in the US later this year.
