Apple’s new Tap to Pay feature has reached beta testing and with other investments, such as the Credit Kudos acquisition, could be a sign of an ongoing strategy to increase use of the iPhone as a full payments platform. Jonny Evans adds details in his Apple Holic report for Computerworld:
Tap to Pay is expected to launch for real this spring (both Stripe and Adyen say they will enable the services around then) and I imagine other payment service providers who are already working with Apple Pay will also introduce support for it over time. Businesses using Tap to Pay should also register with Apple Business Register.
Apple is doing a lot of work to shore up and extend its Apple Pay services and systems, including steadily introducing on-device support for government ID.
Of course, once an iPhone becomes your passport and your driving license, it also becomes a point of trust for additional payment and identity services.
When it comes to payments, the company is currently pivoting to replace Apple account cards with something called Account Pass, which can be pre-loaded with cash to purchase items from Apple online and at retail. The company also reached a new deal under which Apple Cash now uses Visa’s payment network, sparking speculation it may extend that service — and possibly also Apple Card — outside the US.
The level of activity suggests the company may have additional intentions, possibly extending to the introduction of additional payment services, such as Apple-designed ‘Buy Now, Pay Later’ schemes, which current speculation suggests it is considering.
The full article here
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
