Apple to empower millions of merchants in the US
A great step for iPhone users with Apple’s introduction of Tap to Pay to empower millions of merchants across the U.S.
From small businesses to large retailers, they will be able to use their iPhone to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets with a simple tap of their iPhone. No additional hardware or payment terminal required.
Tap to Pay on iPhone will be available for payment platforms and app developers to integrate into their iOS apps and offer to their business customers as a payment option.
This spring, Stripe will be the first payment platform to offer Tap to Pay on iPhone to their business customers, including the Shopify Point of Sale app. Additional payment platforms and apps will be developed.
“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,” says 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.”
80% of merchants
Apple Pay is already accepted at more than 90 percent of US retailers, and with this new capability, virtually every business, big or small, will be able allow their customers to Tap to Pay on iPhone at checkout. Tap to Pay on iPhone will also roll out to Apple Store locations in the US later this year.
Merchants will be able to unlock contactless payment acceptance on an iPhone XS or later device once Tap to Pay on iPhone becomes available.
At checkout, the merchant will simply ask the customer to hold their iPhone or Apple Watch near the merchant’s iPhone to pay with Apple Pay, their contactless credit or debit card, or other digital wallets, and the payment will be securely completed using NFC technology.
Tap to Pay on iPhone requires no additional hardware to accept contactless payments, allowing businesses to accept payments from wherever they do business.