Digital payments company Block has partnered with Apple to integrate Square payments on Apple’s “Tap to Pay” feature on iPhones.
This feature would enable sellers to accept in-person contactless payments with only their iPhones and a Square Point-of-Sales (POS) app.
It will also give sellers more flexibility at checkout and an easy onramp to the Square ecosystem.
This “Tap to Pay” feature will be launched later this year.
“Bringing Tap to Pay on iPhone into the Square ecosystem ensures that new sellers will have another free option to get up and running, while providing businesses of any complexity with more flexibility to adapt their commerce experiences to evolving consumer preferences and changing industry trends,” said David Talach, Head of Financial Services at Square.
Read Also: Apple’s Tap to Pay Will Support Contact-less Payments Via iPhone
Currently, Block has initiated registrations for an early access program which would help sellers test out this feature this summer.
Teddy Rojas, owner of Kona Ice Vacaville, an early participant in Square’s Early Access Program said, “With Tap to Pay on iPhone, I can process contactless payments quickly, even on cellular service, and it provides a really straightforward experience so new staff can easily get up and running on taking payments on an iPhone.”
The news of this new feature resulted in a 7% increase in the stock prices of Block.
Apple has been working on its fintech services in a bid to stay updated with the current market trends.
The company previously launched its own credit card with Goldman Sachs in 2019 and is currently working on a “buy now, pay later” service.