Square announces it will support Tap to Pay on iPhones
Square confirms it will work with Apple’s Tap to Pay system
Square has confirmed it will work with Apple’s new Tap to Pay feature to allow business users to accept contact-free payments using iPhones and no additional hardware.
Square joins Stripe and Ayden
The ability to take payments without requiring additional hardware should help extend contactless payments across many businesses, and Square’s decision to support the feature is surely welcome. Stripe and Adyen have also confrmed support for the service.
When Tap to Pay was announced, 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.”
The idea is that sellers of all sizes will be able to seamlessly and securely accept in-person contactless payments with only an iPhone and Square’s app. Square has also opened a limitedEarly Access Program for Tap to Pay on iPhone, allowing select sellers to begin testing the new technology in advance of launch later this year.
What Square said
“Square’s purpose is rooted in economic empowerment, which is why we’ve always offered a free way for businesses to get started using our services,” said David Talach, Head of Financial Services at Square.
“Bringing Tap to Pay on iPhone into the Square ecosystem ensures that new sellers will have another free option to get up and running, while providing businesses of any complexity with more flexibility to adapt their commerce experiences to evolving consumer preferences and changing industry trends.
What it may mean to business
“As a seasonal business that’s always on the move, it’s important to have an easy-to-use, reliable mobile option for taking payments,” said Teddy Rojas, owner of Kona Ice Vacaville, an early participant in Square’s Early Access Program.
“Square and Apple are making it really convenient to make sure we never miss a sale. With Tap to Pay on iPhone, I can process contactless payments quickly, even on cellular service, and it provides a really straightforward experience so new staff can easily get up and running on taking payments on an iPhone.”
In the background
Apple acquired Mobeewave in 2020, which was building a tech to turn phones into payment portals. So, Apple has been thinking about this for some time. (Mobeewave originally worked with Samsung on a phone-based POS service).
In terms of proliferation, Apple Pay is now supported by over 9,000 banks and over 60 nations and regions, the company said last year. As of summer 2021, Loup Ventures estimates around half a billion people now use Apple Pay. Juniper Research thinks transactions using the service will hit $686 billion by 2024.
Keep track on Apple’s services and payments news here.
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