PayPal has uncovered in his latest earnings report (PDF) that merchant users in the US will soon be able to accept payments with their iPhones without the need for dongles and card readers. The payment solution will “soon” integrate Apple’s Tay-to-Pay technology. This means businesses and sellers can easily receive payments via contactless debit or credit cards, as well as mobile wallets including Apple Pay through the PayPal or Venmo app. All you have to do is make sure they are using an iPhone XS or a newer model.
Apple first announced the Tap-to-Pay feature on the iPhone in February of this year. A few months later, employees at the Apple Park visitor center in Cupertino were seen testing the feature. Since it makes payments as easy as clashing phones, it seemed like it could pose a threat to payments companies like Square. However, Square quickly jumped in, launching the Tap-to-Pay integration in September after running an Early Access program.
In addition to its Tap-to-Pay news, PayPal also announced that it is adding Apple Pay as a payment option to its merchant platform checkout solution. And starting next year, customers in the US will be able to add their PayPal and Venmo credit and debit cards to their Apple Wallets. In a statement sent to BloombergDan Schulman, PayPal’s Chief Executive Officer, said the company is “extremely excited to be working with Apple to make it better [its] Offers for… PayPal and Venmo merchants and consumers.” It’s also worth noting that PayPal briefly touched on making Venmo available as a checkout option for some Amazon users in the US in its earnings report. The company confirmed that the feature will be rolled out to everyone in the country in the upcoming holiday season.
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