New Delhi: Apple is apparently planning to introduce a new feature that will allow micro businesses to accept payments directly on their iPhones without the need for additional equipment.
Currently, retailers use payment terminals connected via Bluetooth to their iPhones to accept payments, such as Block Inc’s Square payment systems. Following the release of the new feature, the iPhone will turn into a payment terminal , allowing merchants to accept payments by tapping a credit card or another iPhone on the back of their device.
According to the report, it’s unclear if the payment acceptance option will be integrated into Apple Pay or if the company will partner with an existing payment network.
According to Bloomberg, the feature, which is expected to be released in the coming months, could use the iPhone’s near-field communications, or the NFC chip, which is now used for Apple Pay.
Last year, the digital giant paid around $100 million to Mobeewave, a Canadian company that invented technology that allows mobile phones to accept money with the tap of a credit card. Meanwhile, no official announcement about the latest feature has been released.