Apple’s innovative Tap to Pay service is now live in Taiwan

Apple has introduced its small business friendly Tap to Pay service in the first nation outside the US of A, launching it in Taiwan this week.

Tap to Pay in Taiwan

Introduced as Apple CEO, Tim Cook toured India this week, Tap to Pay Taiwan is also being supported by local payment providers there, including CTBC Bank and TapPay, with Taipei Fubon Bank coming on line soon.

The service, which builds on Apple’s highly successful Apple Pay service, was announced in the US in February 2022 and permits compatible iPhones to accept payments via Apple Pay, contactless credit cards and debit cards, and some digital wallets using only the Apple device.

It makes use of the NFC inside the smartphone to read the cards.

Tap To Pay had a phenomenal shopping season in the US last year and is expected to perform very well in Apple-friendly Taiwan. The service is already available across 700,000 business in the US, and Apple Stores also support it as do PayPal, Square, GoDaddy and other payment services in the US.

Secure, private and easy

In a press release, Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet said:

“As more and more consumers are tapping 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 contactless payments and unlock new checkout experiences using the power, security, and convenience of iPhone.”

“In collaboration with payment platforms, app developers, and payment networks, we’re making it easier than ever for businesses of all sizes — from solopreneurs to large retailers — to seamlessly accept contactless payments and continue to grow their business.”

How it works

At checkout, the merchant will simply prompt the customer to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the merchant’s iPhone, and the payment will be securely completed using NFC technology. No additional hardware is needed.

In recent weeks, Apple also introduced Apple Card Savings and Apple Pay Later in the US. Both these services assert Apple’s place in the financial system as it works toward providing increasingly complex sets of financial services. For an idea of the services it could provide in future feel free to use this link to join the Revolut service, which is one of the better challenger banks.

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