Apple announces Tap to Pay feature for iPhone

Tap to Pay for iPhone is coming to the US first later this year, potentially supporting Apple Pay (on both iPhone and Apple Watch), contactless credit/debit cards, and other digital wallets without any additional hardware. The service will work with contactless credit and debit cards from leading payment networks, including Visa, Mastercard, American Express, and Discover.

Tap to Pay will be available for both payment platforms and developers to integrate into their apps. Apple revealed that Stripe will be the first platform to support the new feature this spring. Apple also revealed details about Tap to Pay compatibility for merchants, where they'll need an iPhone XS or later device and must download a supporting iOS app to set it up.

'As more and more consumers tap to pay with digital wallets and credit cards, Tap to Pay on iPhone will provide businesses with a secure, private and easy way to accept payments. contactless and unlock a new payment experience using the power, security, and convenience of iPhone," said Apple Pay and Apple Wallet Vice President Jennifer Bailey.

After the setup process, store owners can accept NFC payments from customers with a simple tap. Tap to Pay uses the same payment data protection as Apple Pay with secure element encryption that generates a unique transaction ID each time a user makes a purchase. Apple does not receive data on what users are buying or who is paying at the terminal. Tap to Pay will be widely available at most retailers that currently accept Apple Pay.