Apple will reportedly allow iPhones to accept contactless payments |  TechCrunch

Great news for merchants, accepting customers’ payments just got a little bit easier. Apple announced just last month that it will be rolling out a new payment feature that enables businesses to accept Apple Pay, contactless payment cards and other digital wallets using only their iPhones. 

The company went on to proudly share that Tap to Pay will be available this spring and will require no hardware other than an iPhone XS or later. This move is likely due to the many shifts that took place over the last two years, as consumers adjusted to pandemic conditions and their shopping expectations changed. Apple is rolling out a service that they know consumers need and have come to prefer.

The Big Fraud Question

As exciting as this announcement is, there have also been many questions concerning how fraudsters might be able to leverage Tap to Pay. According to Apple, this new feature was designed using the same technology the company used to protect Apple Pay – transactions are encrypted and processed using a device’s secure element.

Essentially, the giant does not collect or record any data from Tap to Pay transactions. The company knows nothing about what is being purchased or who is behind the transactions. Apple explained that as more and more consumers and merchants use this feature, the more security all will enjoy.

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

“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.”

Apple has yet to give an exact date when this feature will come available. But the company did say that Stripe and Shopify will be among the first payment providers that can offer it to their merchant customers.

Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of Best Payment Providers. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.