Apple announced on Tuesday (2/8) that it will launch the Tap to Pay function this year, as long as the consumer's iPhone has a variety of contactless payment mechanisms, merchants only need to have iPhone XS or above iPhone, two iPhones can be close to complete payment and collection, merchants do not need to deploy additional hardware or terminal equipment.
Apple intends to provide relevant software development components (SDKs) in the upcoming iOS beta to allow various payment platforms or program developers to integrate tap to Pay into the service, the first cooperation object is the network/mobile transaction payment system Stripe, the related features are expected to be available in the spring, and apple stores across the United States will also support Tap to Pay this year.
Tap to Pay can accept contactless credit cards, charge cards, Apple Pay and other types of e-wallets, developers or payment platforms as long as the integration of Tap to Pay in the program or platform, can let the program or platform customers with Tap to Pay function to pay, the required hardware only iPhone XS and later models, very suitable for small businesses or individual sellers to use.
When consumers want to check out, they can choose Apple Pay, contactless credit card or other e-wallet payment, and then put the iPhone or Apple Watch close to the merchant's iPhone, and the transaction will be completed through NFC technology.
Apple stressed that Tap to Pay adopts a privacy and security policy consistent with Apple Pay, all transactions are encrypted and processed in the Secure Element, and Apple has no way of knowing which consumer bought what.
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