Apple has announced that Tap to Pay will be available on the iPhone. Millions of merchants across the United States, from small shops to huge retailers, will be able to use their iPhone to accept Apple Pay, contactless credit and debit cards, and other digital wallets with a single tap – no additional hardware or payment terminal required.
Payment platforms and app developers will be able to incorporate Tap to Pay on iPhone into their iOS apps and provide it as a payment option to their business clients. This spring, Stripe will be the first payment platform to offer Tap to Pay on iPhone to its business customers, which will include the Shopify Point of Sale app. Later this year, more payment platforms and apps will be available.
“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.”
Merchants will be able to unlock contactless payment acceptance through a supporting iOS app on an iPhone XS or later device once Tap to Pay on iPhone is ready. At checkout, the merchant will simply ask the consumer to hold their iPhone or Apple Watch near the retailer’s iPhone to pay with Apple Pay, contactless credit or debit cards, or other digital wallets, and the payment will be completed securely using NFC technology.
Tap to Pay on iPhone does not require any additional hardware to take contactless payments, so businesses may accept payments from anywhere they do business. Apple Pay is now accepted at more than 90% of US businesses, and with this new feature, nearly any business, large or small, will be able to allow their customers to use their iPhones to pay at the checkout. Later this year, Apple Store locations in the United States will be able to use Tap to Pay on iPhone.
All of Apple’s payment services are designed and developed with privacy in mind. Customers’ payment data is protected by the same technology that makes Apple Pay private and secure with Tap to Pay on iPhone. All Tap to Pay transactions on iPhone are encrypted and handled through the Secure Element, and Apple, like Apple Pay, has no knowledge of what is being purchased or who is making the purchase.
To bring Tap to Pay to millions of merchants in the United States, Apple will collaborate with major payment platforms and app developers in the payments and commerce industry. Tap to Pay for iPhone adds to the full set of payment and commerce options that payment systems and app developers offer their merchant customers to help them run and grow their companies. Contactless credit and debit cards from leading payment networks, such as American Express, Discover, Mastercard, and Visa, will work with Tap to Pay on iPhone.
