We assume that Apple fans love its payment service called Apple Pay, which was launched back in 2014. Since then, the Cupertino-based company has expanded its services to various markets and regions (including South Africa). Moreover, Apple even released its own card.
Apple Pay allows users to make contactless payments using their iPhone or Apple Watch. But for this, the mentioned devices must be equipped with an NFC chip. Well, we think you know the story. Regarding the latest posts from Bloomberg, Apple will make its payment system even more advanced. It turns out that Apple is going to make its contactless payments available even without external hardware.
Bloomberg's Mark Gurman is working on new technology that should be very useful for small businesses. This will allow them to accept payments directly through their iPhones. When everything is ready, Apple will release a software update to enable this feature.
It's not really revolutionary technology. We mean there are other tech companies that have been offering this kind of service for a long time. Samsung is the best example. The Korean company started supporting a similar feature back in 2019. Its contactless payment technology is based on the Mobeewave payment acceptance technology.
By the way, Apple acquired the aforementioned Canadian startup for $100 million. in 2020 year. So Apple has been working on a new contactless payment system for at least a year.
When Apple launches this feature, it will appear that any iPhone user will be able to accept payments using contactless bank cards and other NFC-enabled smartphones. We believe it is ideal for small businesses. What we mean is that thanks to Apple's contactless payment technology, they won't need to purchase external devices like Square hardware.
However, it is not yet known whether Apple will use its own payment network or will cooperate with the existing one. Since there is no information about the regions where this system will be available, it is logical to assume that the US will be the first market in which it will appear.
Finally, Bloomberg proves that everything is almost ready, and Apple may start rolling out an update in the coming months. Yesterday, Apple began publishing iOS 15.3, which fixes a lot of bugs. So the next wave of iOS 15.4 updates could arrive in the next week or so.
