Payments
Apple readying contactless pay via iPhone
February 8, 2022
Apple is getting ready to debut a contactless payment using an iPhone which won't need any hardware.
The strategy will place Apple as a prime competitor to Square, a mobile service payment process, according to a CNN report.
Called "Tap to Pay," the payment process will let U.S. retailers of any size accept payment by holding an iPhone near the customer's iPhone or Apple Watch and will also work with contactless debit and credit cards.
"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," Jennifer Bailey, Apple vice president of Apple Pay and Apple Wallet, said in a statement.
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