Using an iPhone and a partner-enabled iOS app, US shops will be able to accept Apple Pay and other contactless payments later this year. Through a simple tap on their iPhone, businesses can accept Apple Pay, contactless credit and debit cards, and other digital wallets in a seamless and secure manner.
Apple announced today that Tap to Pay will be available on the iPhone. Millions of merchants across the United States, from small shops to huge retailers, will be able to use their iPhone to accept Apple Pay, contactless credit and debit cards, and other digital wallets with a single tap – no additional hardware or payment terminal required. Payment platforms and app developers will be able to integrate Tap to Pay on iPhone into their iOS apps and offer it as a payment option to their business customers. This spring, Stripe will be the first payment platform to offer Tap to Pay on iPhone to its business customers, which will include the Shopify Point of Sale app. There will be more payment platforms and apps available follow later this year.
“As more consumers tap to pay with digital wallets and credit cards,” Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said, “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.” “By working with payment platforms, app developers, and payment networks, we’re making it easier than ever for companies of all sorts — from solopreneurs to huge stores — to take contactless payments and continue to expand.”
Merchants will be able to unlock contactless payment acceptance through a supporting iOS app on an iPhone XS or later device once Tap to Pay on iPhone is ready. The customer will simply be asked 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 wallet, and the payment will be securely completed using NFC technology. Tap to Pay on iPhone does not require any additional hardware to accept contactless payments, so businesses can accept payments from anywhere they do business.
Apple Pay is already accepted at more than 90% of US retailers, and with this new feature, virtually any business, large or small, will be able to allow their customers to use their iPhones to pay at the checkout. Later this year, Apple Store locations in the United States will be able to use Tap to Pay on iPhone.
All of Apple’s payment services are designed and developed with privacy in mind. Customers’ payment data is protected by the same technology that makes Apple Pay private and secure with Tap to Pay on iPhone. All Tap to Pay transactions on iPhone are encrypted and handled through the Secure Element, and Apple, like Apple Pay, has no knowledge of what is being purchased or who is making the purchase.
Tap to Pay on iPhone does not require any additional hardware to take contactless payments, so businesses may accept payments from anywhere they do business.
To bring Tap to Pay to millions of merchants in the United States, Apple will collaborate with major payment platforms and app developers in the payments and commerce industry. Tap to Pay on iPhone adds to the robust set of payment and commerce tools that payment platforms and app developers offer their merchant customers to help them run and grow their businesses. Contactless credit and debit cards from leading payment networks, such as American Express, Discover, Mastercard, and Visa, will work with Tap to Pay on iPhone.
Stripe’s chief business officer, Billy Alvarado, stated, “Whether you’re a salesperson at an internet-first retailer or an individual entrepreneur, you’ll soon be able to accept contactless payments on a device that’s already in your pocket: your iPhone.” “Millions of Stripe businesses can improve their in-person commerce experience by offering their customers a fast and secure checkout with Tap to Pay on iPhone.”
In an upcoming iOS software beta, participating payment providers and their app developer partners will be able to use Tap to Pay on iPhone in their software developer kits (SDKs).
