iPhone users can now use Tap to Pay to pay for goods and services with their smartphones.
Businesses using iPhones as a point of sale system will be able to accept contactless payments using NFC technology.
Apple Pay, contactless debit and credit cards, and other digital wallets will support Tap to Pay. Unless prohibited by Apple, consumers using Coinbase, Crypto.com, or other payment cards will be able to use Tap to Purchase to pay for products and services.
Aside from Irish-American financial company Stripe, Apple says “other payment platforms and apps will join later this year.”
Starting August 20, 2021, Coinbase will accept Apple Pay and Google Pay for cryptocurrency purchases. Apple Pay already allows US consumers to purchase cryptocurrency with their bank-issued debit or credit cards.
We just introduced Tap to Pay on iPhone, a great way for millions of small businesses to accept contactless payments right from their iPhone. It’s easy, secure, and will be coming out later this year. https://t.co/w6P6oS7grm
— Tim Cook (@tim_cook) February 9, 2022
Coinbase will release its own card
Coinbase unveiled the Coinbase Card in June 2021, allowing customers to spend bitcoin on sites like:
Within minutes, Coinbase will convert each bitcoin to USD and deliver the funds to your Coinbase card for purchases and ATM withdrawals.
Similarly, Crypto.com launched a Visa card compatible with Apple Pay and other popular digital wallets.
If the user has cryptocurrencies in their account, Apple Pay will convert them to dollars.
Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin.
— Cash App (@CashApp) February 7, 2022
Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6
Apple CEO Tim Cook disclosed his own cryptocurrency purchases in November 2021, but said the company had no immediate intentions of accepting bitcoin as payment.
Tap to Pay will be available in Apple Stores and on iPhone XS and later.
Block, the firm of Twitter co-founder Jack Dorsey, announced support for the Bitcoin Lightning network.
The new functionality will streamline BTC transactions at popular businesses. According to Cointelegraph, the business has made the functionality available across the country, except for New York.
