Contactless payment is quickly becoming an expected part of everyday retail transactions. In a market that is already saturated with fresh faces and cutting-edge startups, it appears that one of the old guard of consumer tech is about to reshape the playing field. And with the kind of brand power associated with the Apple iPhone, it seems likely that this new contactless payment function will carry a great deal of weight.
The new Tap to Pay feature is expected to make major waves in the world of using digital payment services in brick-and-mortar retailers and other businesses. Moreover, with an anticipated partnership with payment platform Stripe later this year and Shopify Point of Sale app functionality coming this spring, it seems that Apple is not going to be shy about using its continued market dominance to drive synergy with business payment servicers across the board.
“In collaboration with payment platforms, app developers, and payment networks, we’re making it easier than ever for businesses of all sizes — from solopreneurs to large retailers — to seamlessly accept contactless payments and continue to grow their business,” Vice President of Apple Pay and Apple Wallet Jennifer Bailey said in an announcement about the new service.