Earlier today, Apple announced its Square-killer feature: Tap to Pay. The new feature will allow businesses to accept payments with their iPhone – without the need for an external device like Square’s payment hardware.
Instead of tapping your iPhone or card to an external device, customers will just tap their iPhone or NFC-enabled debit or credit card directly to the business owner’s iPhone. Apple is even rolling out the feature to all of its retail stores.
Apple today announced plans to introduce Tap to Pay on iPhone. The new capability will empower millions of merchants across the US, from small businesses to large retailers, to use their iPhone to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets through a simple tap to their iPhone — no additional hardware or payment terminal needed. Tap to Pay on iPhone will be available for payment platforms and app developers to integrate into their iOS apps and offer as a payment option to their business customers.
One of the first business partners that will support the feature is Stripe. In order to prepare businesses for the new feature, the company announced a closed beta program that will get developers access to the Stripe Terminal SDK.
Turn an iPhone into a contactless reader using Tap to Pay on iPhone and the Stripe Terminal SDK. Accept payments from contactless cards, Apple Pay, and other digital wallets in person directly on an iPhone—no additional hardware required.
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Alex Lux