Apple has announced plans to introduce a new Tap to Pay feature for iPhone that allows more contactless payments. In a move to take on Square, U.S. merchants will be able to accept Apple Pay and other contactless payments starting later this year.
Soon, Apple devices like the iPhone will take payments from “contactless credit and debit cards, and other digital wallets.” Unfortunately, it looks like this exciting new feature will only work with the iPhone XS and later models. Yes, older phones have NFC, but those won’t be compatible with Tap to Pay.
The upcoming feature will be available for app developers to integrate into their iOS apps or payment systems as a payment option for customers. As a result, we can expect fast, easy, and secure payments between devices in the future. No additional hardware is needed for payments, either, making this a big deal.
According to Apple’s press release, the first payment platform that will support Tap to Pay on iPhone is Stripe, along with a new Shopify app. Then, Apple confirmed that several additional payment platforms, systems, and apps would gain support later this year.
Those with an iPhone XS or newer will be able to try out Tap to Pay in an upcoming iOS beta sometime this year, but we’re not sure when. Finally, Apple ended the announcement by confirming that the company doesn’t know what is being purchased or who is buying it. Furthermore, Tap to Pay transactions are encrypted and processed using Apple’s Secure Element, making everything safe, private, and secure.