The iPhone is not only the most popular smartphone in the world, but is used by many on a daily basis for contactless payments. But what if it could be used the other way around?
According to the Reuters news agency, Apple is planning a new service that could revolutionize the way small retailers use the iPhone. This is because it will allow you to accept payments directly on the iPhone without additional hardware.
The iPhone could soon become a standalone payment terminal
As the source points out, to accept payments on an iPhone, retailers must use payment terminals to receive payment on their Bluetooth-connected iOS device. The idea is to turn the iPhone into the payment terminal itself.
Merchants could then accept payments on their iPhone by tapping a card or another iPhone on the back of their device. The news was first reported by Bloomberg News, which cites “people with knowledge of the matter.”
For this, the NFC chip present in the iPhone must be used, which users already use in Apple Pay. And the best thing is that this novelty may arrive in the coming months, only needing a software update.
The source says that this possibility has been worked on by Apple since 2020. To date, the Cupertino manufacturer will have paid some $100 million to Mobeewave to help develop the technology.
It’s unclear if this feature will only be part of Apple Pay or if Apple intends to partner with other payment networks. In any case, the cracked apple company has not yet commented on the matter.