In the spring, all iPhones with NFC will turn into POS terminals (2 photos)

Share of non-cash payments in retail tradeis constantly growing, and cash is gradually becoming history. In 2021, the share of cashless payments in Russian retail reached a record 75%. The continued dominance of electronic money payments will be reinforced by Apple's intention to turn all devices that support iOS into terminals for accepting non-cash payments with bank cards. This information was published by the authoritative agency Bloomberg.

Using iPhone as POSis available now, but only with the help of additional hardware that provides reading information from a bank card. The most popular devices for turning smartphones into POS terminals today are Square Readers from Block. However, now, according to informed Bloomberg sources, Apple is developing software products that allow you to use any iPhone with an NFC module as a POS terminal.

In the near future, most likely in the spring2022, it will be possible to use iPhone for cashless payments. Thus, to make a payment, you will need either a bank card, or an iPhone, or an Apple Watch smart watch that supports NFC technology. At this time, there is no information on whether this feature will be used only with the Apple Pay platform, or if Apple will work with all payment platforms.

Work on the introduction of a system for accepting non-cashPayments was launched by Apple back in 2020, when the company acquired Canadian payment app developer Mobeewave for $100 million. Presumably, the beta version of the new version of iOS 15.4 will appear in April, and the full release of the OS, which will implement the technology for turning iPhone with NFC into POS terminals, will take place before the end of this spring.

Source: bloomberg