Wednesday, February 09, 2022 13:40:46 UTC

Stock responds positively when Apple officially launched "Tap to Pay" today, a new iPhone feature that will allow businesses to accept payments from their handsets.

The new approach will function simply tapping phones together or using contactless credit cards, with no additional hardware required. Stripe will be the first payment provider to offer the service this spring, alongside Shopify's Point-of-Sale app, with more platforms and applications to follow later this year.

The move pits Apple against Block and other finance businesses like as PayPal, Verifone, and Ingenico. Apple was keen to point out that it will not be able to see what is being purchased or who is purchasing it. Payment data, according to the tech giant, is encrypted and safeguarded by the same technology that makes Apple Pay private and secure.(More)

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