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It's FINALLY happening. When I was an editor at Mobile Payments Today in a different life, I had a restaurant executive tell me that Apple was soon going to open its NFC chip to third parties. This was back in 2016. I did some digging and the story never went anywhere because I could find no evidence it was true. In hindsight, I'm glad I took a pass. Anyway, now that this is a reality, the payments geek in me is very curious how this will all play out. There are a lot of different threads to pull at here. Apple said in order to access NFC in iPhones, you must pay us for the privilege. Will banks pay the ransom? Apple is already charging banks 15 basis points (0.15 percent) for each Apple Pay transaction. What about other mobile wallets on iOS? Will the likes of PayPal, Square/Cash App, and others want to pay a competitor even if it makes their own apps easier to use for contactless payments? Merchants will also be able tap into the chip, and that brings great promise. We might finally get the ideal scenario where one tap not only pays for the transaction at the POS, but loyalty points are instantly redeemed/accrued, discounts applied, etc. Once iOS 18.1 rolls out, it will be fascinating to see which entities immediately take advantage of this feature. iPhones users will also be able to "set a default contactless payment app that’s accessible when you double-click your iPhone’s side button." Stay tuned.

Tap to Pay on iPhone is now available to NZ businesses that run on Stripe. Businesses like me&u and Timely are the first to use Stripe's infrastructure to offer Tap to Pay on iPhone to thousands of Kiwi businesses – helping them accept contactless payments from more customers in more places.

Big day for Digital Payments and Digital Identity ecosystems and startups: Apple is opening its iPhone NFC to developers! This means that Apple Pay experience will not be exclusive to Apple Pay anymore, and various banks and fintechs will be able support NFC payment on iPhones. Though there will still be limitations: the double-click on the iPhone side button will still probably be reserved for Apple Wallet (but maybe we will be able to add “alternative” cards there), the developers will need to enter a special agreement with Apple and pay some fees that we do not know yet, and initially this will only be available to developers in Australia, Brazil, Canada, Japan, New Zealand, UK, and US in iOS 18.1. #DigitalPayments #Payments #Fintech #ApplePay #Apple

Apple has opened NFC capabilities to app developers in Europe. The move marks a significant shift in Apple's strategy, slowly aligning it with the open ecosystem seen in Android. The first available functionality is NFC payments, which means that e.g. banks can now facilitate contactless payments via their own apps. In the future, iOS NFC functionality is expected to cover: ⚡️ Loyalty and reward programs ⚡️ Access to the secure element ⚡️ More devices, such as iPads ⚡️ Creative uses, such as peer-to-peer connections In this article, you'll learn more about what NFC is, how it can be utilized in different industries, and the future business opportunities of NFC on iOS. The comprehensive piece is written by Qvik's Senior Software Engineer and Team Lead, Andrei Sadovnicov. Take a look! 👇🔥 #nfc

THIS IS HUGE 🤯 📱 💸 Starting with iOS 18.1 Apple have announced that developers will be able to offer Apple‘s NFC contactless transactions using the Secure Element from within their OWN apps on iPhone, separate from Apple Pay and Apple Wallet. 🌐 💰 Using the NFC and Secure Element APIs, developers will be able to offer in-app contactless transactions for in-store payments, car keys, closed-loop transit, corporate badges, merchant loyalty and rewards cards, and event tickets, with government IDs to be supported in the future. 🤝 🗺 To incorporate this new solution in their iPhone apps, developers will need to enter into a commercial agreement with Apple, request the NFC and SE entitlement, and pay associated fees.  The APIs will be available to developers in Australia, Brazil, Canada, Japan, New Zealand, the U.K., AND the U.S. in an upcoming developer seed for iOS 18.1, with ADDITIONAL locations to follow! Read more on the link below! 👇 Mary Carol Harris Duncan Olby Michelle Greenhalgh Mike Dias Shawn Munyon Mikael Berrebi Tomoko Itao Doug Kukura Jennifer Bailey Eliana Bavli Tisch #apple #nfc #contactlesspayments #digitalid #loyalty #ios18 #digitalpayments #applewallet #applepay #paymentacceptance

Vipps MobilePay Launches the World’s First Alternative to Apple Pay on iPhone "We have fought for years to be able to compete on equal footing with Apple, and it feels almost surreal to finally be able to launch our very own solution. This will now be a very exciting battle between the world's biggest brand and Vipps," says Rune Garborg, CEO of Vipps MobilePay. "We believe that Vipps users find it advantageous to only have to deal with one payment app and finally have the opportunity to use Vipps in situations where they would normally use their plastic card. After Apple opened up, it has been important for us to launch as quickly as possible, to meet tough competition. However, we will continuously add more simplifications, international cards, and more banks,” https://lnkd.in/eN-5U-cQ Mikkel B. Thrane Adam Tareen Caroline Lunde Charlotte Fink Jensen Mads Allingstrup Morten Kjelsø Andreas Saastad #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Curve Pay is coming to #iOS in the EU to compete with #ApplePay. It offers a lot of attractive features, such as a way for card issuers to bypass the 15 bps fee that Apple charges per transaction, as well as the ability to use funding sources that would otherwise not be accepted by a particular merchant. This is a major concession by Apple; however, as Eric Grover and I point out, Apple has a way of making life difficult for competitors despite such concessions and may be able to duplicate some of this functionality in ApplePay, which already has a way to pick alternative funding sources and is adding #BNPL. Still, it's great to see more competition in #digitalwallets coming to iOS. #mobilewallets

A decade after its launch, Apple Pay is about to become the perfect test case for the future of Apple. After the antitrust case in the US and a series of new rules in the EU, Apple announced that beginning with iOS 18.1, third-party developers will be able to enable tap-to-pay transactions in their own apps. Users will also be able to set a default app for contactless payments and change what happens when they double-click the power button. There will be hoops for developers to jump through and fees for them to pay, but the chip will be available. Opening up NFC access has the potential to turn tap-to-pay into tap-to-everything. For years, Apple and others have talked about wanting to turn all your keys, ID cards, loyalty cards, tickets, gift cards, and more into digital objects that you can transmit or share with a tap. Until now, that hasn’t really taken off, but many developers might now be interested in building these tools because they can build them into their own app. Banks and fintech companies might add tap-to-pay so you can pay from the same place you manage your money. Maybe you’ll be able to get into a bar, on a flight, into your car, or into your office with only a few taps. Maybe every file sharing system will support NFC, so you can tap your friend …

Apple will open #ApplePay to third-party wallets As reported by Kevin Purdy in Ars Technica: Following Apple’s settlement with the European Commission, starting with iOS 18.1, iPhones will allow third-party apps to offer in-store payments, car keys, transit passes, and more via NFC, expanding beyond Apple Pay. Developers must enter into commercial agreements, pay fees, and meet Apple's security standards to access these new capabilities. How will third-party wallets on iPhones impact retail and hospitality businesses? Possibilities include… ⚡️ More payment options ⚡️ Lower transaction fees ⚡️ New opportunities for branded apps that integrate payments and loyalty programs https://lnkd.in/gpENA5kb Hospitality Technology Restaurant Technology Network Anna Wolfe Michal Christine Escobar Angela Diffly

Cost To Develop An App Like Apple Pay Ever wondered about the cost to develop an app like Apple Pay? With the rise of digital payments, creating a seamless and secure payment platform like Apple Pay involves intricate development processes and advanced technologies. From user interface design to encryption protocols, the development costs can vary depending on features, integrations, and security measures. Get an insights into the factors influencing the cost and how to navigate the journey of building your own digital wallet solution! Read the full blog here - https://lnkd.in/gG8m33GC #developanapplikeapplepay #applepayappdevelopment #digitalwalletappdevelopment #applikeapplepay #mobileappdevelopment #appdevelopmentcost #appdevelopmentservices #appdevelopmentcompany #digitalwalletcost