Apple launching a new Payment Feature, ‘Tap to Pay’

Apple announced a new payment feature that will allow users to make payments by holding their phones close together. Customer payment data is protected via Tap to Pay in the same way that transaction data is protected via Apple Pay. The company added that all  Tap to Pay payments are encrypted, so Apple doesn't know who is buying what.

The company released a statement saying that Tap to Pay is expected to come out later this year and will let businesses process transactions in stores by tapping iPhones or Apple Watches. The feature will accept contactless credit and debit cards. Along with Apple Pay, Visa, American Express, Mastercard, and Discover. The company also said that no extra hardware or payment terminal would be needed for the new payment system.

The vice president of Apple Pay and Apple Wallet, Jennifer Bailey has said that the feature on iPhone will provide businesses with a secure, private, and easy way to accept contactless payments and unlock new checkout experiences with the use of the power, security, and convenience of iPhone.

Apple has said that Stripe would be the first payment platform to offer Tap to Pay to customers, along with more platforms being added later in the future. The feature is only available in the USA for now.