Apple has developed an innovative service that allows iPhones to function as payment terminals. This service, called Tap to Pay, operates using official technology. Users will be able to make payments via Apple Pay, any other payment service, or a credit card. The transaction will take place through a special app, which is currently under development. The app will be available for iPhone XS and all subsequent models. Apple will not be able to track your payments, as all transactions will be encrypted. The app is planned to be integrated into mobile versions, with access to the SDK being provided.
Initially, the new service will only be available in the United States. It has been announced that Stripe will be the first to implement this service, but other companies will join in throughout the year. The technology will be supported by Visa, Mastercard, and American Express.
The developer Mobeewave was acquired by Apple for around $100 million in the summer of 2020, with Sberbank also participating in the investment. Currently, a new technology is being developed that will allow any smartphone, regardless of the manufacturer, to function as a payment terminal.