Based on reports, Apple will soon introduce an option that lets small-sized businesses take payment directly from iPhones.

Apple will allow small businesses to accept payments directly from their iPhones.

Samsung already provides the same service to retailers.

Apple may unveil this feature in next few months.

Apple is believed to be developing a feature that will make contactless transactions easier for small-scale companies. According to a report by Bloomberg the company is expected to soon launch a feature which will allow small businesses to accept payments directly from their iPhones. This will remove the need for external hardware.

According to the source, Apple might launch this feature in the next few months. The company first started developing this feature in the year 2020 after it purchased an Canadian startup named Mobeewave for 100 million dollars.

In the past, prior to 2019, Samsung worked with this firm and provided the same service for merchants. Samsung partnered with Mobeewave and also introduced Samsung POS (Samsung Point of Sale) the solution that makes it easy for small-scale businesses to accept payment via contactless Samsung phones. Merchants were able to transform into NFC capable Samsung devices into MPOS (Mobile Point of Sale) terminals, without the need for additional piece of hardware.

All they have be able to download is their Samsung POS app from the Galaxy Store or Play Store and sign up as merchant. After the registration is complete the merchants and small business owners are able to accept payment via contactless through Apple Pay, Google Pay, Samsung Pay, or contactless cards issued by Visa as well as Mastercard. Apple is expected to follow suit with something similar.

It is anticipated that the company will implement the technology of tapping-to-pay directly into NFC-equipped iPhones. The moment, small-scale business owners require other hardware from financial services firms like Square who sells different payment devices for iPhones.

It’s not clear about when the company plans to introduce this feature, and if the technology used by Mobeewave will be promoted as one of Apple Pay service. It’s also not clear if the Cupertino company will work with an existing payment system for the feature , or use its own payment system. The report suggests that Apple “may begin rolling out the feature via a software update” within the coming months.