![]() He has deep and wide experience in tech journalism. Apple rivals Google and Samsung also offer digital wallets and payment platforms in their smartphones.Īntone Gonsalves is the news director for the Networking Media Group. Apple does not track what is purchased or who is buying it.Īpple plans to make Tap to Pay available to payment platforms and app developer partners for use in their software developer kits in an upcoming iOS software beta.Īpple built the feature on technology from the $100 million acquisition of Mobeewave in 2020. Like in Apple Pay, transactions made through Tap to Pay are encrypted and processed using Apple's Secure Element, a chip running the Java Card platform that meets financial industry requirements for electronic payments. Near Field Communication, or NFC - a short-range wireless connectivity standard - uses magnetic field induction for communication when devices touch or are within a few centimeters of each other. Tap to Pay uses near field communication technology to communicate with other contactless devices. Collectively, the capabilities are part of a strategy to make the iPhone, which costs as much as $1,100, "more productive and more useful in more places," O'Donnell said. The latest feature is one of many that make the iPhone a critical tool for communications, entertainment, work and buying goods and services. Instead, Tap to Pay passes the transaction to the mobile app or the payment platform on the phone. ![]() "The early rumors were Apple was going to take over the payment portion of the process, and that would impact ," O'Donnell said. The investor reaction might have stemmed from confusion over Tap to Pay's capabilities, said Bob O'Donnell, principal analyst at TECHnalysis Research. The stock price of mobile payment processor Block, formerly Square, fell just over 3% after Apple's announcement. Other payment processors and apps will follow later in the year, Apple said. ![]() This spring, Stripe will become the first payment platform to offer Tap to Pay to business customers, including point-of-sale app maker Shopify. "In collaboration with payment platforms, app developers and payment networks, we're making it easier than ever for businesses of all sizes … to seamlessly accept contactless payments and continue to grow their business," said Jennifer Bailey, vice president of Apple Pay and Apple Wallet, in a statement. To charge the cards, businesses need a mobile app or payment platform supporting the feature. In contrast, payment authorization details for payments within apps and on the web are routed to the Application Processor, but only after encryption by the Secure Element to the Apple Pay server.Tap to Pay works with credit and debit cards from the largest payment networks, including American Express, Discover, Mastercard and Visa. Consequently, payment authorization details for contactless payment transactions are contained to the local NFC field and are never exposed to the Application Processor. Only payment requests arriving from an in-field terminal are marked by the NFC controller as contactless transactions.Īfter a credit, debit, or prepaid card (including store cards) payment is authorized by the cardholder using Face ID, Touch ID, or a passcode, or on an unlocked Apple Watch by double-clicking the side button, contactless responses prepared by the payment applets within the Secure Element are exclusively routed by the controller to the NFC field.
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