Apple’s Tap to Pay on iPhone functionality is coming soon to the PayPal and Venmo iOS apps, allowing merchants to accept contactless debit or credit cards and mobile wallet payments, including Apple Pay, through the Venmo or PayPal app on their iPhones.
PayPal shared the news in its latest earnings report, which was released on Thursday.
Leveraging Apple’s Tap to Pay on iPhone technology, U.S. merchant customers will soon be able to accept contactless debit or credit cards and mobile wallets, including Apple Pay, using an iPhone and the PayPal or Venmo iOS app.
Apple originally announced Tap to Pay in February. The feature allows users with compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and from other digital wallets.
Individuals and merchants with an iPhone XS or newer can accept contactless payments through supported iPhone apps. The merchant simply holds out their iPhone, and the customer holds out their iPhone, Apple Watch, another digital wallet, or contactless credit card near the device, and a secure payment is made via NFC technology.
Apple has several partners for Tap to Pay on iPhone. Partners include Stripe, Square, Chase, and many others. Tap to Pay is currently available in Apple retail locations, and Square has also launched support for the feature.
PayPal says that it also plans to add Apple Pay as a payment option in checkout flows on merchant platforms, plus starting next year, customers in the U.S. will be able to add PayPal and Venmo network-branded credit and debit cards to Apple Wallet, using them in locations where Apple Pay is accepted.
(Via MacRumors)