Apple announces 'Tap to Pay', lets users take payments on iPhone
As recently predicted, Apple is to allow iPhone owners to take Apple Pay and "other contactless payments" simply by using an iOS app.

Following the recent rumors of iPhones being made to accept credit and debit cards, Apple has formally announced the forthcoming "Tap to Pay" feature.
"As more and more consumers are tapping to pay with digital wallets and credit cards," said Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet, "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," she continued, "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."
Tap to Pay will not require any additional hardware, such as a separate payment terminal. It will instead be made available for app developers to integrate into their iOS apps.
Apple says only that Tap to Pay will begin "later this year," and that it is initially limited to US merchants.
The company is working first with Stripe to create a new payment app for that company's services.
"Whether you're a salesperson at an internet-first retailer or an individual entrepreneur, you can soon accept contactless payments on a device that's already in your pocket: your iPhone," said Billy Alvarado, Stripe's chief business officer.
"With Tap to Pay on iPhone," he continued, "millions of businesses using Stripe can enhance their in-person commerce experience by offering their customers a fast and secure checkout."
Read on AppleInsider

Following the recent rumors of iPhones being made to accept credit and debit cards, Apple has formally announced the forthcoming "Tap to Pay" feature.
"As more and more consumers are tapping to pay with digital wallets and credit cards," said Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet, "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," she continued, "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."
Tap to Pay will not require any additional hardware, such as a separate payment terminal. It will instead be made available for app developers to integrate into their iOS apps.
Apple says only that Tap to Pay will begin "later this year," and that it is initially limited to US merchants.
The company is working first with Stripe to create a new payment app for that company's services.
"Whether you're a salesperson at an internet-first retailer or an individual entrepreneur, you can soon accept contactless payments on a device that's already in your pocket: your iPhone," said Billy Alvarado, Stripe's chief business officer.
"With Tap to Pay on iPhone," he continued, "millions of businesses using Stripe can enhance their in-person commerce experience by offering their customers a fast and secure checkout."
Read on AppleInsider

Comments
I agree, it'd be quite cool to NFC your contact card over. Though it might cause some concern given that it's the same mechanism to transfer money.
Wallet. NFC is not necessary to share a business card made this way. Is that what Europe wants Apple to open up NFC for?
Merchant acquisition of card payments is a huge business with quite tasty processing fees. I think Apple is on to a winner and I love how they keep adding incremental revenue services on a continuous basis. Many small rivers make a large torrent over time.
If you have any more info, please share.
What I be needed to od or use to be able to accept payments? I guess it won't work just with wallet same was as if I am paying. Do not know Stripe.
For example, I just sent my mom some pictures in less than 30 seconds. I don’t wanna go to her house and bump her phone.
Sorry, dumb joke, but the setup was too good.
Toothing?
https://en.wikipedia.org/wiki/Contactless_payment#Floor_limit <--
https://www.apple.com/apple-cash/
https://support.apple.com/en-us/HT207884
"Sending and receiving money with Apple Pay and the Apple Cash card are services provided by Green Dot Bank, Member FDIC."
Some banks are starting to offer banking-as-a-service:
https://www.greendot.com/business-solutions
https://stripe.com/treasury
This way deposits are insured and regulated like a bank but on the outside it looks like a company brand offering the service.
https://www.forbes.com/sites/ronshevlin/2021/03/08/walmarts-fintech-aspiration-the-first-super-app-in-the-united-states/
These services are much more accessible to people, especially younger people and international workers than traditional banking services. For most people, digital wallets like Apple Cash should be enough to replace a traditional bank account.