Payment News

Apple Opens the iPhone for NFC Payments by Third Parties

In the face of US and European Commission regulatory pressure, Apple is enabling iPhones to make contactless payments to third party providers. It will though, charge associated fees.

Once iOS 18.1 developers in Australia, Brazil, Canada, Japan, New Zealand, the UK and the US have entered into a commercial agreement with Apple, they will be able to offer NFC contactless transactions using the Secure Element from within their own apps on iPhone, separate from Apple Pay and Apple Wallet. More countries will follow on.

Merchant Payment Preferences

A survey of European merchants found that they prefer cash and cards, but two thirds accept mobile wallet payments. Bank transfers are popular because of their simplicity and perceived cost of acceptance, but actual usage remains behind digital wallets.