iPhones Will Soon Accept Contactless Payments With Apple Tap to Pay

The true next-gen POS Terminal

Apple is going to turn every iPhone, or rather most of them, iPhone XS and later only, into a contactless payment terminal. Wait, Actually? Yes, with the introduction of ‘Tap to Pay’ on iPhone later this year.

 ‘Tap to Pay’ will enable merchants to use their iPhones as a contactless payment terminal and accept Apple Pay, contactless credit and debit cards, and other digital wallets using NFC. 

Tap to Pay will be open to third-party developers willing to integrate the tech in their iOS applications. According to Apple, Stripe will be one of the first payment platforms to integrate ‘Tap to Pay’, with more platforms coming onboard later this year. 

Tap to Pay on iPhone complements and enhances the robust suite of payment and commerce tools that payment platforms and app developers provide to their merchant customers to help them run and grow their businesses. Tap to Pay on iPhone will work with contactless credit and debit cards from leading payment networks, including American Express, Discover, Mastercard, and Visa.

– Apple Newsroom

Win For Small Businesses, and Apple?

Most big retail locations already have contactless payment terminals, and Apple’s Tap to Pay won’t add much to this segment. However, for small businesses and individuals, using iPhones as a contactless POS machine can add a ton of value. This means anyone with a fairly recent iPhone, can accept a host of contactless payment options through a compatible iOS app, without the need of any additional hardware. On the upside for Apple, ‘Tap to Pay’ will significantly improve Apple Pay coverage as it scales. 

The announcement blogpost also talks about privacy and data security being fundamental to Apple’s payment technologies. 

Privacy is fundamental in the design and development across all of Apple’s payment features. With Tap to Pay on iPhone, customers’ payment data is protected by the same technology that makes Apple Pay private and secure. All transactions made using Tap to Pay on iPhone are encrypted and processed using the Secure Element, and as with Apple Pay, Apple doesn’t know what is being purchased or who is buying it.

– Apple Newsroom

We don’t know when exactly ‘Tap to Pay’ is coming this year, although, according to Apple, “participating payment platforms” will soon get access in an upcoming iOS software beta, helping them integrate it in their own SDKs. 

Indranil Chowdhury
Indranil is a Med school student and an avid gamer. He puts his absolute faith in Lord Gaben and loves to write. Crazy about the Witcher lore, he plays soccer too. When not playing games or writing, you can find him on 9gag spreading the Pcmasterrace propaganda.