Why is Apple doing this?īy introducing this feature, Apple is increasing the circulation of Apple devices in the market. Small businesses can be benefitted by using this feature as the purchase and maintenance cost of point-of-sale terminals is reduced.
Who can use it?Ĭustomers and merchants who own an iPhone XS or any other latest model can use this feature. The customers can use their Apple Watch, iPhones, contactless credit cards, debit cards, or other digital wallet near the merchant’s iPhone to complete the payment. With this mode of payment, customers receive a prompt from the merchants. Usually, the customers swipe their credit/debit cards in the payment terminals to make a payment. Apple store locations will implement this feature as a payment mode later this year which will work with contactless credit and debit cards from leading payment networks like American Express, Discover, Mastercard, and Visa. Stripe and Shopify Point of Sale App will be incorporating this feature on their payment platforms by May 2022 which be followed by a few more payment platforms.
#Apple pos terminal software#
This feature is expected to be launched in the upcoming iOS software beta update.NFC technology is used for securely completing payments through Tap to Pay feature.Apple has invested around $100 million for Mobeewave, a Canadian startup to develop this feature.It is expected to be launched by the end of 2022. The launch of this feature eliminates the need for a POS terminal and additional hardware at payment checkouts. This feature enables small merchants and large retailers to widely accept payments through apple devices and services. The customer taps their contactless credit, debit cards on the back of the merchant’s iPhone to complete a transaction.
Apple introduces Tap to Pay feature on iPhones which turns the merchant’s iPhone into a Point-of-Sale (POS) terminal.
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