Apple Announces 'Tap to Pay' Feature That Will Allow iPhones To Accept Contactless Payments

Apple has announced plans to introduce a new Tap to Pay feature for iPhone that turns the device into a contactless payment terminal. From a report: The company says that later this year, U.S. merchants will be able to accept Apple Pay and other contactless payments, such as credit cards and debit cards, by using an iPhone and a partner-enabled iOS app. 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 customers. Stripe will be the first payment platform to offer Tap to Pay on iPhone to customers. Apple says additional payment platforms and apps will follow later this year. Once Tap to Pay on iPhone launches, merchants will be able to unlock contactless payment acceptance through a supporting iOS app. At checkout, the merchant will ask the customer to hold their iPhone or Apple Watch near the merchant's iPhone and the payment will then be securely completed using NFC technology. No additional hardware is required to accept contactless payments. Apple also says that with Tap to Pay on iPhone, customers' payment data is protected and that all transactions that are made through the feature are encrypted.

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