Apple to Add Cryptocurrency Payments in iPhone Update

• Apple has shared plans to launch a Tap to Pay feature for its iPhone, allowing users to owners to use it as a point-of-sale device

• The company has disclosed that merchants who have iPhones will now be able to receive contactless payments on their mobile

• The new feature will allow customers who have a Coinbase and Crypto.com card to make payments from their cryptocurrency holdings

Tech and smartphone giant Apple Inc has announced that it is set to add a new feature to its iPhone that will allow business owners and merchants to turn their mobile into a point-of-sale (POS) device.

According to the announcement, merchants will now receive contactless payments without any additional device using the iPhone’s near-field communication technology or NFC.
The company has disclosed that the soon-to-be-launched feature will support payment on “Apple Pay, contactless credit and debit cards, as well as digital wallets.

What this means for cryptocurrency

With the announcement of the new feature, barring any restrictions from the company, customers who own Coinbase Card, Crypto.com Visa Card, and other like payment cards will be able to pay for items from their crypto wallet balance.

Read also: Apple Joins Facebook in Metaverse Investment

The Chief Executive Officer of the company, Tim Cook confirmed the introduction of the feature on his Twitter account and disclosed that it will be launched later this year.

Although Apple has so far announced only Stripe as the platform to offer the Tap to Pay feature on iPhone, the company added that the feature will be extended to other payment platforms later this year.

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