Apple is said to be planning to introduce a feature in iOS that will allow iPhone to accept local payments. The solution does not require a hardware upgrade: it uses an NFC sensor already used in Apple Day. This feature is due to the fact that in 2020 Apple acquired a start-up company called Mobeewave. This had received financial support from Samsung, which has been using this solution for 3 years.
When Apple Pay was launched in 2014, all financial analysts gave very positive opinions. Why ? Because the company was committed to a market for financial transactions that will never be in short supply. You really won’t stop eating, getting dressed or moving around overnight! And in every transaction made through Apple Pay Cupertino receives a rewardsuch as Visa or Mastercard.
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And that was just the beginning: Apple would then strengthen its presence in the financial services and payments markets. A good example is the Apple Card, a payment card launched in 2019 with a cashback system. First, the virtual card has become physical, allowing goods to be paid for on standard terminals, even those that are not compatible with Apple Pay.
All iPhones will soon accept local payments
In 2020, the company will buy a Canadian start-up called Mobeewave for $ 10 million. His specialty is the creation of a software system that turns an NFC-enabled smartphone into a local payment terminal. Samsung has been using the system since 2019. So far, it has never been adapted for the iPhone. But that should finally happen, according to Bloomberg journalist Mark Gurman. The latter claims that Apple is to implement the operation this year.
So merchants and artisans can turn their iPhones into payment terminals without compatible devices. In fact, the beauty of the system is that it only requires a standard NFC chip. The rest is controlled by software. This means that this feature is compatible with all iPhones compatible with the latest iOS version as soon as it arrives. Thus, backward compatibility is ensured iPhone 6s until, all iPhones have been NFC compatible since 2014 (with iPhone 6). Of course, it remains to be seen how much it will cost because the service is not free.
Mark Gurman explains that a test period should be run for the feature, starting with the release of the beta versioniOS 15.4. If all goes well, it should be included in the public release of iOS 15.4, which will be released sometime in the spring, possibly in conjunction with the retail release of the iPhone SE 3.