Apple is working on a new feature that will make payments on iPhones easier and more convenient. Apple is gearing up to launch a new service that will let small businesses accept payments directly on their iPhones without any extra hardware.
The upcoming feature will help users make payments with the tap of a credit card or another iPhone onto the back of their device using NFC technology.
Apple would leapfrog Square’s hardware by integrating tap-to-pay terminal technology into its built-in NFC chip into the iPhone.
The near-field communication chip (NFC) is a silicon component or integrated circuit (IC) that enables short-range, wireless, safe communication between two devices. The merchants and vendors need to use payment terminals that plugin or communicate with the iPhone via Bluetooth that dominates the market.
According to a report, Apple may begin rolling out the feature via a software update in the coming future. The company also features an extra layer of security attached as iPhones within proximity range of each other can be connected via NFC.
The new feature will work with Apple Pay, such that any iPhone user can take their smartphone at the back of another iOS device and make the payment.
According to the company, Apple is currently testing the iOS 15.4 beta version and is planning to roll out the new feature via a software update in the coming future.
In addition to that, the feature will be rolled out as part of Apple Pay. Apple has worked with the tech giant’s payments department since Apple purchased Mobeewave.
According to the company, it’s still unclear whether the payment acceptance option will be branded as part of Apple Pay. It’s also unknown that Apple intends to partner with an existing payment network for the feature or launch it as an individual feature.