Adam Kos Apple will allow businesses to accept contactless payments via Tap to Pay on the iPhone. All you need is a phone and a partner app. What does it mean? That no more terminals will be needed. However, we will have to wait a while for the function to be expanded.
Apple has announced its plans to bring Tap to Pay to the iPhone via Press Releases. This feature will enable millions of merchants in the US alone, from small businesses to large retailers, to use iPhone to seamlessly and securely accept Apple Pay, contactless credit and debit cards (including American Express, Discover, Mastercard and Visa) and other digital wallet with just a tap on the iPhone – without the need for additional hardware or a payment terminal.
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Benjamin Levicek When, where and to whom
Tap to Pay on iPhone will be available to payment platforms and app developers to integrate it into their iOS apps and offer it as a payment option to their business customers. Stripe will be the first payment platform to offer the function to its business customers already in the spring of this year. More payment platforms and apps will follow later this year. The important thing is that Strip services can also be used in our country, so this would not necessarily mean that the Czech Republic will be removed from the support of the function. Most likely, however, the function will not be seen outside the USA this year, as it is to be deployed in Apple's own stores, i.e. American Apple Stores, by the end of the year.
Once Tap to Pay is available on iPhone, merchants will be able to unlock contactless payment acceptance through a supporting iOS app on the device iPhone XS or newer. When paying at the checkout, the merchant simply prompts the customer to hold their Apple Pay device, contactless card or other digital wallet to their iPhone, and the payment is securely completed using NFC technology. Apple says Apple Pay is already accepted by more than 90% of US retailers.
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Safety first
As Apple mentions, privacy is at the core of the design and development of all of the company's payment features. In Tap to Pay on iPhone, customers' payment information is protected by the same technology that ensures the privacy and security of Apple Pay itself. All transactions made using the feature are also encrypted and processed using Secure Element, and as with Apple Pay, the company doesn't know what's being bought or who's buying it.
Apple Pay
Tap to Pay on iPhone will be available to participating payment platforms and their app developer partners, who will be able to use it in their SDKs in the upcoming iOS software beta. This is the second iOS 15.4 beta that is already available.
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