Apple announced during the WWDC keynote yesterday that it will be launching Tap to Pay on iPhone this month. The new feature allows small merchants and other vendors in the United States to use their iPhones as a payment terminal with no additional hardware needed.
Apple originally announced Tap to Pay in February. The feature will allow users with compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and from other digital wallets.
Individuals and merchants with an iPhone XS or newer can accept contactless payments through supported iPhone apps. The merchant will simply hold out their iPhone, and the customer will hold their iPhone, Apple Watch, another digital wallet, or contactless credit card near the device and a secure payment will be made via NFC technology.
Apple has several partners for Tap to Pay on iPhone. Partners include Stripe, Square, Chase, and many others.
Apple Pay is already accepted by more than 90% of US retailers, and with this new capability, virtually every business, big or small, will be able to allow their customers to Tap to Pay on iPhone at checkout.
Apple in May began using Tap to Pay on iPhone at its Apple Park visitor center and has since rolled out the feature to its retail stores.