Apple Introduces ‘Tap to Pay’ To Accept Contactless Payment

Apple has announced plans to introduce Tap to Pay on iPhone, a feature that will help businesses use their iPhones to securely accept Payment through Apple Pay, contactless credit and debit cards, and other digital wallets through a tap to their iPhone with no additional hardware or payment terminal needed.

Apple revealed this on Tuesday in a blog post that 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.

Apple stated that 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.

“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,”

“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’s vice president of Apple Pay and Apple Wallet, Jennifer Bailey said.

Apple also assured users of the same high level of privacy and security with its tap-to-pay functionality, including encrypted transactions. Tap to Pay on iPhone will work with contactless credit and debit cards from leading payment networks, including American Express, Discover, Mastercard, and Visa.

Merchants will be able to unlock contactless payment acceptance once Tap to Pay on iPhone becomes available through a supporting iOS app on an iPhone XS or later device. And at checkout, the Merchant will simply prompt the customers to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallets near the merchant’s iPhone, and the payment will be securely completed using NFC technology.

According to Apple, no additional hardware is needed to accept contactless payments through Tap to Pay on iPhone, so businesses can accept payments from wherever they do business.

No additional hardware is needed to accept contactless payments through Tap to Pay on iPhone, so businesses can accept payments from wherever they do business. PHOTO CREDIT:| APPLE

Apple Pay is already accepted by more than 90 percent 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.