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iPhone's Tap to Pay Feature Enables Crypto Payments Across Businesses

Published Sat, Feb 12 2022 06:51 am
by The Silicon Trend

iphone 12. mini
 

iPhone's Tap to Pay Feature Enables Crypto Payments Across Businesses

The US multinational tech organization - Apple publicized its plan to introduce the Tap to Pay feature for the iPhone, which effectively becomes a point-of-sale device for merchants and businesses, followed by a new way of accepting crypto payments. The part will extend support to contactless debit and credit cards, Apple Pay, and other e-wallets.

While the company publicized about an Irish-American fintech - Stripe as the first Tap to Pay feature offering platform, Apple clarified that extra payment apps are soon to come.

 

Crypto Asset Purchase

Last year, Coinbase merged with Google Pay and Apple Pay, permitting people to purchase crypto assets on their platforms. This move lets US citizens buy the asset using bank-issued credit and debit cards through Apple Pay. In last year June, Coinbase launched Coinbase Card, where all the cryptos will be automatically converted to USD and will be transferred to your Coinbase card for purchase and ATM withdrawals.

 

Twitter's Cash App

While Apple Pay most likely won't permit the direct purchase of services and goods through BTC, it will convert the user's cryptos to match the USD demanded by the merchant's sale point machine for purchase. This feature will be launched on Apple Store, iPhone XS, and later series models.

A mobile payment service developed by Jack Dorsey's (Twitter) Block-Cash App announced the compatibility with the Bitcoin Lightning Network for BTC transfers. With the latest launch, users can make swift transactions across mainstream ventures.

 

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Image Source: Apple.com