Presented during the last edition of Apple's WWDC, the "Tap to Pay" functionality attracted many testers. Over the past few months, the Apple brand has worked to make this functionality ever more open and universal. To this end, it has just announced that it will be compatible with the PayPal and Venmo applications.
As a reminder, this functionality uses the NFC chip (already allowing payment from a mobile). With« Tap To Pay », Apple allows users to make payments from one iPhone to another. For small merchants, this solution could ultimately replace the expensive payment terminals used today.
Apple joins forces with PayPal and Venmo
In its press release on the subject, Apple explained that the new update to the “Tap To Pay” function would allow American merchants to accept contactless bank card payments. This highly anticipated feature risks spreading the use of an iPhone as a payment terminal.
To get an idea of this technology and its reliability, Apple served as a test company that launched the feature in all of its Apple Stores in the United States. At the moment the functionality is limited within Uncle Sam's borders, but it could, asApple Paya few years ago, quickly expanding to Europe and other countries.
A popular solution
Today, iPhones are used by millions of people to make payments with Apple Pay. A study carried out in 2021 reports that 5% of card payments worldwide are made with Apple Pay. On the other hand, the feature is still far from popular since the same study notes that 39% of Americans have never heard of this option.
Throughout the world, the Apple Pay system is used today bymore than 5000 banks. “Tap to Pay” should therefore quickly spread to the four corners of the planet.
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By : Keleops AG
