Apple to announce easy payment acceptance options – Check details

American multinational Apple is set to introduce a new feature to help micro-businesses to accept payments directly on their iPhones without any additional gear. With the launch of this feature, iPhone device itself will transform into a payment terminal. Merchant users will then be able to accept payments by simply tapping their credit card or another iPhone on the back of their device.

It is still unclear if the payment acceptance option will be branded under Apple Pay or some other business would partner with an existing payment network.

As per Bloomberg, this new method of making payments will be started soon. It may use iPhones near field communications or the NFC chip, which is currently being used for Apple Pay.

The Cupertino-based tech giant has paid nearly USD 100 million to Mobeewave, a Canadian firm that invented technology enabling phones to accept money by tapping credit card. As of now, there is no official statement about the release of this feature.

Notably, Apple’s upcoming iPhone 14 model may come with the feature of e-SIM. It has been revealed that Apple is trying to remove the physical SIM card tray in upcoming models. The feature is set to be launched in September. It will be kept as an optional feature.

This doesn’t imply that the tech giant is completely switching to to e-SIMs. According to Global Data's analyst Emma Mohr-McClune, the company will not completely shift the e-SIM only to iPhones at the moment, but yes, the iPhone 14 can start with it like an optional model. These iPhones with e-SIM can be purchased from Apple's own stores.