Apple is adding a “tap to pay" feature on iPhone to enable a contactless-payment option. Apple iPhone users in the US will be able to use it. The payment feature will be particularly useful amid the ongoing COVID-19 pandemic as people are minimising physical interaction to curb the spread of the virus. For those unaware, Paytm has a ‘Tap to Pay’ Card which lets you make payments without carrying your phone.
In a blog post, Apple says ‘tap to pay’ on iPhone will be available for payment platforms and app developers to integrate into their iOS apps. Similar to Paytm’s ‘tap to pay’, it uses NFC technology, meaning even if there’s no internet connection the payment method can work – similar to tap to pay on debit and credit cards.
iPhone users in India sadly cannot access Paytm’s tap to pay feature as it is only accessible through Apple Pay, which is currently not available in the country. In other words, the iPhone’s tap to pay is not available in the country.
Apple says merchants will be able to unlock contactless payment acceptance through a supporting iOS app on an iPhone XS or later, once tap to pay on iPhone becomes available. The feature makes more sense for the American market as the smartphone space in the US is dominated by Apple iPhones. The company notes that no additional hardware is required to accept contactless payments via iPhones. In other words, businesses can accept payments from wherever they do business. Customers will also be able to use this feature across Apple Stores in the US. Apple says Apple Pay is already accepted at more than 90 percent of US retailers.
In the initial stage, Stripe will be the first payment platform to offer Tap to Pay on iPhone to their business customers. Apple assures more payment platforms, and apps will follow later this year. The company notes that iPhone’s tap to pay will work with American Express, Discover, Mastercard, and Visa debit and credit cards.
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