Apple Launches Tap To Pay Feature On IPhone

(RTTNews) - Tech giant Apple Inc. (AAPL) on Tuesday announced its plans to launch new Tap to Pay feature for iPhone. This feature, which will drop later this year, will allow merchants to use their iPhones to "seamlessly and securely" accept Apple Pay payments with a simple tap.

The feature will also work for contactless credit cards and debit cards, as well as other digital wallets.

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 this spring. Additional payment platforms and apps will follow later this year.

"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."

Once Tap to Pay is available contactless payments will be accepted via any iPhone XS or newer device. At checkout, the merchant will simply prompt the customer to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the merchant's iPhone, and the payment will be securely completed using NFC technology. No additional hardware is needed to accept contactless payments through Tap to Pay on iPhone.