Today, Apple has unveiled a new program to try and once again change the world of money.
The company announced that “later this year” it will unveil a new feature that will enable companies big and small to accept Apple Pay payments right from the merchants’ own iPhone.
Apple has stated that there will be no new hardware or payment terminals in order to take advantage of this.
Stripe is said to be the first payment platform that will have Tap to Pay enabled this spring, which will include the Shopify Point of Sale app. Other platforms and apps are said to be coming “later this year” with Tap to Pay functionality.
Jennifer Bailey, vice president of Apple Pay and Apple Wallet at Apple, said this is all being done as more and more people get in touch with using Apple Pay.
“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,” she said. “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.”
Businesses will be able to use contactless payments through an iOS app as long as they have an iPhone XS or newer. Customers will then be able to checkout with Apple Pay on their iPhone or Apple Watch and use the Tap to Pay feature.
Apple also stated that over 90 percent of retailers in the United States currently accept Apple Pay as a payment method.
Billy Alvarado, the chief business officer at Stripe, said security and convenience are going to play a major factor in Tap to Pay.
“Whether you’re a salesperson at an internet-first retailer or an individual entrepreneur, you can soon accept contactless payments on a device that’s already in your pocket: your iPhone,” he said. “With Tap to Pay on iPhone, millions of businesses using Stripe can enhance their in-person commerce experience by offering their customers a fast and secure checkout.”
Apple stated in its announcement, “Tap to Pay on iPhone will be available to participating payment platforms and their app developer partners to leverage in their software developer kits (SDKs) in an upcoming iOS software beta.”