Bloomberg: Apple will turn any iPhone with NFC into a POS terminal and introduce the function of accepting payments this spring

According to a Bloomberg report, Apple is preparing to introduce a new feature for smartphones - payment acceptance.

How it works?

This option will allow businesses to use the iPhone as a POS terminals without any additional equipment. Now iPhone or iPad can also be used as POS station, but with the help of hardware attachments such as Block Inc Square readers that connect to the device.

The new feature greatly simplifies this process: to pay to a smartphone, you just need to attach a bank card, another iPhone or smart watch Apple watch. The only requirement is that the device has an NFC module.

It is not yet clear if this new feature will become part of Apple Pay or if the company will partner with existing payment providers. But this decision will allow Apple to compete with the largest manufacturer of payment terminals, Square.

By the way, it is reported that the Cupertinos started working in this direction in 2020, when they bought the Canadian developer of the Mobeewave payment application. The new feature is expected to launch this spring, possibly with iOS 15.4.

“Apple may begin rolling out this feature through a software update in the coming months. The company is expected to release the first beta version iOS 15.4, and the final release to consumers is likely to take place in the spring. An Apple representative declined to comment,” Bloomberg noted.

A source: Bloomberg