Apple unveils new Tap to Pay feature Indirectly letting merchants accept crypto payments?

Apple (AAPL) recently announced that it will launch a new feature called Tap to Pay in 2022 that will allow merchants holding iphones to accept payments through digital wallets, credit cards and charge cards. While this new feature does not accept direct cryptocurrency payments, customers using Coinbase Card, Crypto.com Visa cards will be able to use their cryptocurrencies to make payments via Tap to Pay. On the other hand, since the official announcement explicitly mentions payment through digital wallets, it may also mean that Tap to Pay will be able to tie into digital wallets that support converting cryptocurrencies into fiat currencies." The new

feature will benefit cryptocurrency investors as it will indirectly enable millions of merchants in the United States to quickly extend their payment capabilities to digital assets, thereby opening up new opportunities to improve traditional payment methods. According to Apple's announcement, merchants and customers will be able to use Apple's payments service without the need to install or invest in additional hardware. One of the features of the Tap To Pay card is the ability for developers To integrate iOS apps into it To extend its capabilities. All payments made through Apple Pay will be secure, giving consumers more confidence in adopting digital assets, the company said. Jennifer Bailey, vice president of Apple Pay, said of the upcoming features: "As consumers increasingly use digital wallets and credit cards for credit card payments, Tap to Pay will provide businesses with a secure, private and easy way to accept contactless payments and leverage the power, security and convenience of the iPhone for a new payment experience." SAN Francisco-based financial services provider Stripe will be the first platform to offer this feature. The company will offer the service on iPhone to major corporate customers in spring 2022, such as Canadian online e-commerce platform Shopify through Stripe's point-of-sale App.

other platforms will be announced soon. But Shopify alone will enable thousands of new merchants to join the crypto economy." "By partnering with payment platforms, app developers and payment networks, we will make contactless payments easier and smoother than ever for businesses of all sizes, and continue to thrive," said Jennifer Bailey,

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clarified that merchants will have to support iPhoneXS or later versions of iOS to use the feature. According to the announcement, consumers will only have to follow a very simple process to check out, including taking out their cryptocurrency wallet, iPhone, credit card or charge card and holding it to their iPhone near the merchant.

Any payment will then be sent to the merchant and secured via technology called NFC(Near Field Communication). Apple claims that its payment service has a 90% acceptance rate at retailers in the US. With this new feature, Apple says, almost every business, large or small, will be able to let their customers Tap to Pay on the iPhone at checkout. Tap to Pay for the iPhone will also be launched at Apple Store locations in the US later this year.