Apple Launching Tap to Pay on iPhone This Month

[MacRumors]

During WWDC yesterday, Apple announced it will be launching Tap to Pay on iPhone this month, allowing small merchants and independent sellers in the United States to use their iPhone as a payment terminal.

Announced in February, the feature allows compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and other digital wallets, with just an iPhone.

Tap to Pay on iPhone will be supported with the iPhone XS or newer, and will work for customers as any normal Apple Pay transaction. Tap to Pay on iPhone uses NFC technology to securely authenticate and complete a purchase.

Apple is working with several partners for Tap to Pay on iPhone, including Square, Stripe, GoDaddy, Chase, and more. Apple started testing the feature first at its Apple Park Visitor Center last month and has rolled it out for Apple retail stores.

Article Link: Apple Launching Tap to Pay on iPhone This Month

 

[ShadowJonathan]

United States

Didn't the EU say something about allowing exactly this, or was it just about the wallet/NFC api in general?

 

[joecomo]

Didn't the EU say something about allowing exactly this, or was it just about the wallet/NFC api in general?

Well the EU wants Apple to open the access to the NFC to other payment providers - thats actually reasonable regulation.

 

[DrV]

Didn't the EU say something about allowing exactly this, or was it just about the wallet/NFC api in general?

The situation in the EU is quite different. It was more about closed APIs in general.

Tap-to-pay is not such a big thing in the EU, because the small payment competitive landscape is completely different due to more uniform banking system. There are common inexpensive Bluetooth-connected payment terminals and apps, and — depending on the country — it is more and more common to meet small merchants who do not accept cash. Also, there are bank-based phone-number-tied systems where you can transfer money immediately and directly between two parties with a few clicks without any commissions or fees.

 

[ShadowJonathan]

because the small payment competitive landscape is completely different due to more uniform banking system.

Imagine being in a first-world country in 2022.

Sarcasm aside, that does make sense, and even payment processor/terminal companies like adyen are making large strides here by making it even *more* easier to integrate all kinds of payments into just one online+POS-terminal interface.

Still, together with apple cash, i'm interested if apple even has the appetite to enter the EU as a financial intermediary this way. It would be interesting, but i think they'd get slapped by the ECB and/or EU commission if they start to pull stuff too much to themselves.

On the other hand, enhanced cooperation with european banks, with apple's display and integration systems, would be very interesting to have.

 

[icolove]

Imagine being in a first-world country in 2022.

Sarcasm aside, that does make sense, and even payment processor/terminal companies like adyen are making large strides here by making it even *more* easier to integrate all kinds of payments into just one online+POS-terminal interface.

Still, together with apple cash, i'm interested if apple even has the appetite to enter the EU as a financial intermediary this way. It would be interesting, but i think they'd get slapped by the ECB and/or EU commission if they start to pull stuff too much to themselves.

On the other hand, enhanced cooperation with european banks, with apple's display and integration systems, would be very interesting to have.

It's probably the same in Canada, we have email money transfer, and that's it. (Other than PayPal).

 

[genovelle]

The situation in the EU is quite different. It was more about closed APIs in general.

Tap-to-pay is not such a big thing in the EU, because the small payment competitive landscape is completely different due to more uniform banking system. There are common inexpensive Bluetooth-connected payment terminals and apps, and — depending on the country — it is more and more common to meet small merchants who do not accept cash. Also, there are bank-based phone-number-tied systems where you can transfer money immediately and directly between two parties with a few clicks without any commissions or fees.

All of that is available in the states. Square which is the forbear of the Bluetooth terminal created that ecosystem and is a US company

 

[genovelle]

Imagine being in a first-world country in 2022.

Sarcasm aside, that does make sense, and even payment processor/terminal companies like adyen are making large strides here by making it even *more* easier to integrate all kinds of payments into just one online+POS-terminal interface.

Still, together with apple cash, i'm interested if apple even has the appetite to enter the EU as a financial intermediary this way. It would be interesting, but i think they'd get slapped by the ECB and/or EU commission if they start to pull stuff too much to themselves.

On the other hand, enhanced cooperation with european banks, with apple's display and integration systems, would be very interesting to have.

I think Apple would do well to avoid the EU whenever possible they tend to account for about 15% of total revenue. Their policies keep a lot of technology from them, because it’s not worth the effort. Plus you jeopardize your entire company because they may try to force you to give away technology you’ve spent billions building to make a profit, because their companies are too weak to innovate and compete on their own.

 

[icolove]

I think Apple would do well to avoid the EU whenever possible they tend to account for about 15% of total revenue. Their policies keep a lot of technology from them, because it’s not worth the effort. Plus you jeopardize your entire company because they may try to force you to give away technology you’ve spent billions building to make a profit, because their companies are too weak to innovate and compete on their own.

Huh? There's no innovation in Europe? What technology isn't available to Europeans?

The Lightning port is nothing more than a money grab since the market has matured and all Apple cares about is increasing margins.

 

[svish]

Nice. Now want to see Apple Pay and Tap to Pay expand globally.

 

[_Spinn_]

Very nice to see this rolling out quickly!

 

[primarycolors]

This is great news 🥺
I'm about to start selling my art at fairs and Square for whatever reason will not let me use their platform, even though I have valid info 🤷🏼‍♂️

 

[jimthing]

Just to be clear, is this a US only feature or anywhere?