Apple introduces Tap to Pay on iPhone, a way for merchants to accept contactless payment methods using only the iPhone and an app.
Apple today announced a new feature for the iPhone that will allow small businesses to use the handset to accept Apple Pay and other contactless payment methods using an iPhone; no other hardware or POS terminal will be required. Outside of the handset, a special app will need to be installed.
Bailey added,"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." Still not feeling secure? The company adds that"All transactions made using Tap to Pay on iPhone are encrypted and processed using the Secure Element, and as with Apple Pay,Apple hopes to offer the new feature to millions of merchants and notes that it will work with contactless credit and debit cards from major names in that space. These are names that you are familiar with such as American Express, Discover, Mastercard, and Visa.
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