In addition to continuing to expand the cooperation with Apple Pay payment service, Apple has launched a quick payment service for merchants using iPhone.Tap to Pay (card collection) function, and has now expanded to more European markets with the latest update, including merchants in Estonia, Latvia, Lithuania, Monaco and Norway. This feature will allow iPhone to become a payment tool that supports contactless payments without the need for additional card readers or hardware.
This update still maintains Apple's consistent strategy, that is, the Tap to Pay function on the iPhone must be used through a cooperating third-party iOS platform app, and different options are provided based on the actual situation in each market.
For example, British fintech company SumUp has announced that it will support this function in Estonia, Latvia, Lithuania and Norway. However, since SumUp does not provide services in Monaco, the local area will rely on other partner platforms.
Of the five newly added markets, Norway boasts the broadest support, with over six payment platforms announcing integration with Apple's NF payment technology, including renowned international players like PayPal and Stripe. This provides local merchants with more options for implementing mobile payments. For other countries, Apple also detailed the list of supported payment platforms in its announcement, allowing merchants to choose the appropriate solution based on their needs.
For merchants, the biggest attraction of Tap to Pay payment transactions on iPhone is that it can turn iPhone directly into a payment terminal, supporting contactless credit and debit card transactions of card issuing organizations such as Apple Pay, Visa, and Mastercard, and
Transaction security is ensured by encryption and processing using the iPhone's built-in Secure Element chip. The entire process requires no external card reader or additional hardware; simply update the corresponding app and you're ready to use.
However, payment platforms that wish to enable this feature must still sign a business partnership agreement with Apple and pay the associated fees, which is one reason some financial institutions have been cautious about this feature in the past. However, as user acceptance of mobile payments continues to grow, more platforms are gradually adding support, rapidly expanding the reach of Tap to Pay on iPhone.
With iPhone's Tap to Pay contactless payment feature now available in 43 countries and regions worldwide, Apple is clearly accelerating its adoption as a new mobile payment standard. This will be a low-barrier-to-entry solution for small and medium-sized businesses, especially by eliminating the need to purchase and maintain POS equipment. As more markets and platforms join the feature, Tap to Pay on iPhone is expected to further promote the adoption of cashless transactions, making the iPhone not just a payment tool but a vital part of businesses' daily operations.
