Apple introduced the Tap to Pay system, which turns iPhones into payment terminals, in a press release today. The system, which allows receiving contactless payments with a simple touch on a smartphone, will be offered to payment platforms and application developers.
Tap to Pay will enable millions of merchants, from small shops to large businesses, to accept payments using only their iPhones, without the need for any other special equipment. The system will support contactless credit and debit cards and other digital wallets, especially Apple Pay.
How will the payment take place?
During the checkout process, the seller will ask the customer to keep their iPhone or Apple Watch, contactless credit or debit card, or digital wallet near their iPhone. After that, the payment will be completed securely using NFC technology.
It should be noted that for Tap to Pay to work, you must have an iPhone XS or a newer smartphone. American Stripe will be the first payment platform to offer this service to its customers. It is not known when the system, which turns iPhones into POS devices, will be available in countries other than the USA.
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