Apple ‘s ambitions in the financial sector continue to grow, and it is now announcing Tap to Pay for iPhone payments . The Tap to Pay platform is focused on stores, companies and professionals, since it really does not make any difference for buyers compared to current contactless payment systems (without contacts).
This will allow us to be charged directly with an iPhone , so that the seller will not need a specific payment terminal (POS) . You just have to bring a valid means of payment: a credit or debit card, an iPhone, an Apple Watch or other “digital wallets”.
Apple doesn’t mention it, but these other digital wallets probably include NFC-enabled Android phones for contactless payments, either through the Google Pay app or smartphone bank apps.
The only requirement for Tap to Pay for payment is an iPhone XS or higher , which includes NFC technology to read the cards. Of course, Apple is not going to process payments , it will only make the protocol available to specialized companies (traditional banks or digital systems such as PayPal, although the latter is not confirmed for now).
It will allow developers to integrate it into apps , for example, Shopify will be one of the first to integrate Tap To Pay.
In the official announcement it has not been specified if Tap to Pay will imply a commission for Apple . It will undoubtedly be the most sensitive issue, since companies and professionals already pay commissions to banks and other alternatives, which would perhaps rise by adding another intermediary.
Apple promises the total privacy of buyers and sellers , at no time will you know the products that are paid for with this system. His idea is that they integrate it from large chain stores to small local businesses, and physical Apple Stores will also use it.
At the moment, Tap to Pay will be released in the United States throughout 2022 , without a confirmed date. Among the platforms that will accept it are Visa, Mastercard and Stripe , and it is to be imagined that they will increase.
Many governments have long been concerned about the enormous size of technology multinationals, and their aggressiveness in expanding into other sectors thanks to their vast economic resources. Tap to Pay is a new example, adding to Apple Pay and Apple Card bank card payments.
The arrival of Tap to Pay to other countries has not been determined, seeing that WhatsApp payments expand very slowly and in countries like Spain Bizum has already taken the lead, Apple will not have it easy.
With the new Tap to Pay, Apple is increasingly offering more bank-specific services , so we must keep an eye out in case it makes the leap to new sectors in 2022, such as the rumored autonomous electric car it is developing.
