Here’s how Apple will turn iPhones into Pos

11 February 20222 years ago babelfish

With the Tap to Pay feature, coming to the US this year, Apple introduces contactless payments for iPhone users

Apple turns iPhones into point-of-sale (Pos) terminals with no additional hardware.

On Tuesday, the Cupertino-based company announced a new Tap to Pay feature for iPhone that allows people to buy goods from merchants in the United States by bringing their phones closer. The new functionality will also be possible with contactless credit cards. Once Tap to Pay is launched on iPhone, merchants will be able to unlock contactless payment acceptance via a supporting iOS app.

THE NEW TAP TO PAY FUNCTION

The Cupertino giant says U.S. merchants will be able to accept Apple Pay and other contactless payments, including Google Pay, using an iPhone and a partner-enabled iOS app by the end of the year.

The feature will be enabled for iPhone XS and later models.

Apple said the feature will be accessible via third-party apps, released later this year. For now, Stripe will be the first payment platform to offer Tap to Pay on iPhone to customers via a new Shopify app. Other payment companies and app developers will be able to develop apps that access the Tap to Pay feature in an upcoming version of iOS, the iPhone operating system.

HOW THE SERVICE WILL WORK

The announcement effectively turns iPhones into point-of-sale terminals with no additional hardware.

The service, currently limited to the United States, will use the iPhone's NFC chip and will also accept Apple Pay, Visa, American Express, Mastercard and Discover.

ALL FINANCIAL SERVICES OFFERED BY THE COLOSSUS OF CUPERTINO

But Tap to Pay is just the latest financial services innovation from the company led by Tim Cook, as CNBC points out .

He currently operates Apple Pay, a contactless payment service, Apple Pay Cash, a peer-to-peer payment service, and Apple Card, an app-oriented credit card for the iPhone operated in partnership with Goldman Sachs.

Finally, the company highlighted that Apple Pay is already accepted by more than 90% of US retailers. Therefore, according to Apple, the new feature will allow customers to make payment even easier.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/ecco-come-apple-trasformera-gli-iphone-in-pos/ on Fri, 11 Feb 2022 07:13:19 +0000.