New iPhone update will turn anyone into a merchant
What: Apple will let iPhones accept payments through a new Tap to Pay feature, turning anyone into a merchant.
Why is it important: A new update coming to the iPhone in the US, will turn the device into an always-on contactless payment terminal. Instead of asking people to bump a smartphone or credit card to a special terminal, sellers will be able to take payments using only their iPhones and an app.
The feature won’t be limited to just Apple Pay and other iPhones, contactless credit and debit cards, and other digital wallets are also accepted through a simple tap to the iPhone.
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