Apple Pay does not accept Bitcoin payments at this time. However, with the announcement of its brand new “Tap to Pay” feature, Apple is sure to introduce this feature in the coming months. For now, this new application, available on iPhone, should facilitate payment for merchants.
On Wednesday, February 9, Apple Inc., the global smartphone maker, announced the launch of a new feature on its Apple Pay application. Called “Tap-to-Pay”, this application dedicated exclusively to the iPhone, aims to allow merchants to receive payments without necessarily exchanging cash, but directly on their Smartphone. However, only merchants who have at least an iPhone XS and a compatible iOS application will be able to take advantage of this new feature.
“Tap-to-Pay” will limit contact between customers and merchants to a strict minimum. To make a secure payment via NFC (Near Field Communication) technology, they will just have to bring their Smartphones closer.
Stripe will be the first brand to use this new feature from the Apple firm. After suspending BTC payments in 2018, the firm has been showing interest in crypto payments again since the end of November 2021. And the integration of “Tap-to-Pay” into its payment system is a step in this direction.
In addition, Apple is also announcing possible compatibility of its application with credit and debit cards, in the coming months. Customers who use Visa cards from Coinbase, Crypto.com and others should therefore also be able to benefit from this functionality.
Although Apple CEO Tim Cook has not really commented on the possibility of making Bitcoin payments on his Apple Pay (and with Tap-to-Pay) in the near future, he does not exclude such a possibilyty. Last November, he revealed during an interview that he held crypto currencies.
“Yes, I own it.” I think it’s reasonable to hold it in a diversified portfolio. I’ve been interested in it for some time. I’ve done my research, I think it’s an interesting area.”
During a more recent quarterly conference, the CEO of Apple also insisted on the very high potential of the metaverse sector in which his company is more interested in recent times. The proof, Apple is constantly investing in augmented reality on its latest devices.
As recently as May 2021, Apple even posted a job posting for a “business development manager specializing in alternative payments.” A position reserved only for a true expert with at least 5 years of experience in crypto payments and digital wallets.
Coinbase has already accepted Apple Pay and Google Pay for cryptocurrency purchases since August 2021. Any customer with a Visa credit or debit card, or a Mastercard in their Apple wallet, can choose to use the Apple Pay app to make a payment, from a compatible iOS Smartphone or the Safari web browser.
In June 2021, the exchange also launched its “Coinbase Card”, a Visa debit card that is compatible with Apple Pay and Google Pay. A digital card that allows customers to benefit from a 1% cashback in BTC or 4% in Stellar Lumens. And when you know that Coinbase can convert cryptocurrency to fiat instantly, the eventual deployment of crypto payment through the “Tap-to-Pay” app would be a logical next step for most merchants.