Apple Inc. will allow businesses to accept payments directly on their iphoneexcluding any additional payment hardware such as Block Inc.’s Square terminals.
Fintech firms Stripe and Shopify Points will be the first to offer the “tap to pay” feature to business customers in the spring of 2022, the company said in a statement.
Apple said the feature, to be launched later this year, will use Near Field Communications (NFC) technology and allow businesses to accept credit and debit cards and other digital wallets with a tap on the device.
Shares of The Block were down 2% in early trading on Thursday, while shares of Apple were little changed.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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