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Small merchants may soon be able to use their iPhones for contactless payments without the need for additional hardware. According to Bloomberg, Apple may open this feature in a software update in the next few months, perhaps the official version of iOS 15.4. It is rumored that it has been preparing related services after acquiring Canadian startup Mobeewave in 2020. In the past, Mobeewave is known for developing technology that turns mobile phones into payment terminals.
Their solution works with just the app and NFC on the phone, rather than relying on additional hardware like services like Square. Users simply enter the payment amount on their device, then have the customer hold their credit card against the NFC spot on the back of the device to complete the transaction. Apple routinely declined to comment on Bloomberg’s inquiries, so it’s not entirely clear how the feature will appear on the iPhone.
In addition, the source could not confirm whether the new feature will be classified as part of Apple Pay, nor does it know whether it will join the existing payment network. However, it is said that after Mobeewave was acquired, the development team has been working with Apple’s payment division. In fact, before being incorporated into Apple, Mobeewave teamed up with Samsung to push the technology that turns phones into contactless checkout terminals. They tried a few things in Canada, where they also heavily promoted the South Korean giant’s Samsung POS service.
But it is foreseeable that even if Apple finally launches this feature, most of it will be the United States first, and it will definitely take a long time for other regions to wait for regulatory approval.
