Apple Introduces Tap To Pay On iPhone Tool For Merchants

Apple is introducing a new capability that will enable millions of merchants across the U.S. to use their iPhone to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets through a simple tap to their iPhone.

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

“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.”

The new offering will allow merchants, from small businesses to large retailers, to accept payments with no additional hardware or payment terminals.

The Tap to Pay feature on iPhone will be available later this year in the U.S. for payment platforms and app developers to integrate into their iOS apps and offer as a payment option to their business customers.

Apple revealed that Stripe would be the first payment platform to provide the Tap to Pay capability on iPhone to its business customers, including the Shopify Point of Sale app, this spring. Additional payment platforms and apps are expected to follow within the year.

Once Tap to Pay on iPhone becomes available, merchants will be able to unlock contactless payment acceptance through a supporting iOS app on an iPhone XS or later device.

At checkout, the customer will need to hold their payment of choice near the merchant’s iPhone for the payment to be securely completed through NFC technology. Customers who use Tap to Pay can be rest assured that their data is protected as the new payment method 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.

The Tap to Pay offering further solidifies Apple’s claim in the payments space. Today, Apple Pay is accepted at more than 90% of U.S. retailers. And now, with Tap to Pay, virtually every business can now allow their customers to Tap to Pay on iPhone at checkout.