Apple Could Enable Crypto Payments to iPhones via ‘Tap To Pay’ Function

Technology giant Apple is introducing a new contactless payment function to iPhones that could result in direct Bitcoin (BTC) or crypto payments.

Today, Apple announced the new Tap To Pay function on iPhones, a feature available to merchants across the United States.

The new feature will allow businesses to accept ‘tap’ payments from iPhone users via Apple Pay, credit and debit cards, and other digital wallets. While the company hasn’t addressed it directly yet, being able to use digital wallets would presumably allow users to make payments with crypto, unless otherwise restricted by Apple.

According to the announcement, all Tap To Pay transactions will be encrypted and processed using Secure Element, the same security technology used by Apple Pay. Apple says customers of payments giant Stripe will be the first Apple iPhone users with access to Tap To Pay.

Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said,

“As more and more consumers are tapping to pay with digital wallets and credit cards, 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, 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.”

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Featured Image: Shutterstock/ZinetroN