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Apple has made a big move in the world of mobile payments, announcing the launch of its Tap to Pay feature on iPhone in Taiwan. This new feature allows independent sellers, small merchants, and large retailers in the country to use their iPhones as a payment terminal, making it easier than ever to accept digital payments on the go.
The feature was first introduced in February 2022, and it enables compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and other digital wallets, using only an iPhone. No additional hardware or credit card machine is required. Tap to Pay on iPhone uses NFC technology to securely authenticate the contactless payments.
Initially, China Trust Bank and TapPay will be the payment platforms supporting Tap to Pay for their business customers, which includes major customers Taiwan Mobile and Taiwan Taxi Co. Taipei Fubon Bank is set to add support for the payment platform later this year.
To use Tap to Pay on iPhone, sellers need an iPhone XS or newer model. The process is simple: sellers just need to open up the app, register the sale, and present their iPhone to the buyer, who can then use an appropriate contactless payment method. For customers, the process is just like any normal Apple Pay transaction.
Tap to Pay on iPhone is already available to over 700,000 additional businesses across the United States, and Apple Stores in the US have also rolled out the feature. Taiwan is the second region to support Tap to Pay, and it’s expected to be a major success in the country.
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With the rise of digital payments, many small businesses and independent sellers have struggled to keep up with the changing landscape, but Apple’s new Tap to Pay feature could help to level the playing field and make it easier for these businesses to accept payments on the go.