Apple would let your iPhones turn into a payment terminal

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Apple is developing a new service that effectively turns your iPhone into a payment terminal. This will allow businesses to accept payments directly on an iPhone without any additional hardware, according to a Bloomberg Report released Thursday.

The feature has been expected since Apple acquired Canadian startup Mobeewave for $100 million in 2020. The startup is credited with developing technology that accepts one-click payments.

Such a service would mean that merchants would no longer need third-party hardware, including the devices made by Square, and would integrate tap-to-pay technology on iPhones. Customers could make payments by tapping the back of merchant devices with a credit card or another iPhone, the report said. iPhones would likely rely on the NFC chip for this upcoming service.

Apple is preparing to roll out the feature “in the coming months,” the report said. January 26 Apple released iOS 15.3its latest software update for iPhone and iPad that fixes several security flaws, including a Safari bug that allows websites you visit to see your browsing history and other personal data.

Apple did not immediately respond to a request for comment from CNET.

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