Square announced today that it has signed a contract to support the new Apple Tap to Pay feature on iPhone. The feature, which Apple announced in February, allows businesses to use iPhone to accept contactless payments without the need for any additional hardware.
Square says it will roll out Tap to Pay support to iPhone through its existing Square Point of Sale app.
Square Tap support for payment on iPhone
When Apple first announced Tap to Pay on the iPhone, many speculated that it could beat Square’s popular iPad-based payment terminals. However, Square isn’t shying away from technology. With support for the Square Point of Sale app, Square merchants will be able to turn their iPhones into contactless payment terminals, and Square will still be able to keep these merchants in their ecosystem.
In a press release, Square explained:
Using only the Square POS app and iPhone, merchants can easily and securely accept contactless payments with Tap to Pay on iPhone. This is powered by Square’s powerful software that helps merchants grow their business through marketing and loyalty programs; easy to track and manage inventory; and even streamline their cash flow with business banking tools that give them instant access to their Square sales.
Square says it plans to roll out the feature later this year, with an early access program kicking off today for select sellers.
Tap to Pay on iPhone works when a seller invites a buyer to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the seller’s iPhone. The payment will then be completed securely using NFC technology.
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