Apple is reportedly going to allow iPhones to start accepting contactless payments. This is huge news!
It will dramatically affect any card company and how they collect their fees – as well as companies like Square and other POS services.
Apple has reporting been working on this service since 2020, when it purchased a Canadian startup called Mobeewave. Mobeewave’s technology only needs an app and the phone’s NFC to work.
I expect that Apple will roll out such a service as part of Apple Pay.