Apple Inc. plans to bring a new feature. This will allow small businesses to accept payments directly from their iPhone without any additional hardware. According to a Bloomberg report, retailers are now using Bluetooth to receive payments on their iOS devices to accept payments from the iPhone. The name of this payment method is Black Ink Square Payment.
According to a Bloomberg report, the new feature will turn the iPhone into a payment terminal. Allows accepting credit card or any other payment in a single tap of iPhone. According to reports, the system will use the area near the iPhone or NFC chip. The NFC chip is currently used for the Apple Pack. A feature that will roll out in the coming months via software updates.
The company says it has been working on the facility since 2020. According to the report, last time it paid around १०० 100 million to Canadian startup MobiWave. MobiWave is working on a technology to accept payments via tap for smartphones.