Apple might soon allow small businesses to accept contactless payments via their iPhones without the need for any additional hardware component. The Cupertino giant, as per a recent report by Bloomberg’s Mark Gurman, has been working on the technology since 2020, and it might release the feature with an upcoming software update.
In a recent report by Bloomberg (paywalled), Gurman cited industry sources with the knowledge about the matter and stated that Apple will soon let small businesses accept payments directly on their iPhones without the need for any extra hardware. This new feature is said to have been in the works ever since Apple acquired a Canada-based digital payments startup Mobeewave for $100 million two years ago.
Now, it is worth mentioning that there’s no word on whether or not the new payments feature will be a part of Apple Pay, though the team has been reportedly working under the company’s own payments division. It is also currently unknown whether Apple will partner with an existing payments network to roll out the feature or release it alone.
