Apple unveils Tap to Pay feature that lets iPhones accept contactless payments

Apple will introduce its Tap to Pay feature for iPhones later this year, which will allow businesses to use mobile devices as a terminal for contactless payments.

The move is aimed at small businesses.

Apple chief executive Tim Cook said in a tweet on Wednesday that Tap to Pay is "a great way for millions of small businesses to accept contactless payments right from their iPhone".

"It’s easy, secure and will be coming out later this year," Mr Cook said.

The feature, which will initially be available in the US, will also work with contactless cards and digital wallets, and requires no additional hardware, Apple said in a newsroom post.

It did not, however, say when the new service will be available outside the US.

Tap to Pay will be first offered by Stripe, the San Francisco-based financial services provider, and will also be integrated into Shopify's PoS app soon. More platforms and apps are set to follow later this year, Apple added.

“In collaboration with payment platforms, app developers and payment networks, we’re making it easier than ever for businesses of all sizes – from solopreneurs to large retailers – to seamlessly accept contactless payments and continue to grow their business," Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said in the post.

Tap to Pay will work on the iPhone XS and later models, and will also be accessible with an Apple Watch. Transactions will be "securely completed" using near-field communication technology, the company said.

Apple's announcement comes at a time when businesses and consumers alike are becoming more accustomed to using contactless methods to conduct transactions, owing to the convenience and increased security they bring.

The global contactless payment market is expected to hit more than $12.6 trillion by 2030, growing by 24.2 per cent annually from 2020 to 2030, figures compiled by Research and Markets show.

About 60 per cent of small businesses globally are already – or planning to go – cashless by 2024, or have already done so, with three quarters saying that accepting new forms of payment is critical to business growth, a January study by Visa found.

The contactless payment and small businesses sectors are both being driven by improved support, technological advancements in digital platforms and mobile devices, as well the fall-out from the Covid-19 pandemic, which has significantly altered consumers' shopping and spending habits.

There are an estimated 32.5 million small businesses in the US, accounting for nearly all – 99.9 per cent – of businesses in the world's largest economy, according to the Small Business Administration, a US government agency. Before the pandemic, the sector created 1.5 million jobs annually and accounted for around 64 per cent of new jobs created in the US, it added.

We’re making it easier than ever for businesses of all sizes – from solopreneurs to large retailers – to seamlessly accept contactless payments and continue to grow their business

Jennifer Bailey,
vice president of Apple Pay and Apple Wallet

The introduction of Tap to Pay further strengthens Apple's financial services offerings, joining its flagship cashless service Apple Pay, its peer-to-peer service Apple Pay Cash and the Goldman Sachs-backed Apple Card.

Apple said that, as with its other financial services, customers' payment data on Tap to Pay is protected, with all transactions encrypted. With Apple Pay, the company doesn’t know what is being purchased or who is buying it.

These financial features are part of Apple's services portfolio, which reaped $19.5 billion in revenue in its fiscal 2022 first quarter, up almost a quarter on an annual basis.

Cupertino-based Apple posted record quarterly sales and net profit during the three-month period despite supply chain challenges, with profit increasing more than 20 per cent to about $35bn from the same period in the previous year and revenue rising 11.2 per cent a year to more than $123.9bn.

Apple, the world's most valuable company, is also expected to launch a new low-cost iPhone and an updated iPad on March 8, Bloomberg reported last week, citing sources.

While you're here

The National editorial: Turkey's soft power weighs heavy on Europe's Muslims

Con Coughlin: How extremists use Zoom and other tools to exploit pandemic

Nicky Harley: Peace TV preacher Zakir Naik prompts UK hate laws review

Russia's Muslim Heartlands

Dominic Rubin, Oxford

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

UAE currency

RESULTS

6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m

Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)

7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m

Winner: Walton Street, William Buick, Charlie Appleby.

7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m

Winner Switzerland, Tadhg O’Shea, Satish Seemar

8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m

Winner Lord Giltters, Adrie de Vries, David O’Meara

8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m

Winner Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m

Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor

10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m

Winner Equilateral, Frankie Dettori, Charles Hills.

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

New UK refugee system

A new “core protection” for refugees moving from permanent to a more basic, temporary protection
Shortened leave to remain - refugees will receive 30 months instead of five years
A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
Under core protection there will be no automatic right to family reunion
Refugees will have a reduced right to public funds

On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

The National Editorial: Is there much to celebrate on International Women's Day 2021?

The specs: Rolls-Royce Cullinan

Price, base: Dh1 million (estimate)

Engine: 6.75-litre twin-turbo V12

Transmission: Eight-speed automatic

Power: 563hp @ 5,000rpm

Torque: 850Nm @ 1,600rpm

Fuel economy, combined: 15L / 100km

Dubai World Cup Carnival card:

6.30pm: Handicap (Turf) | US$175,000 | 2,410 metres

7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 | 1,400m

7.40pm: Handicap (T) | $145,000 | 1,000m

8.15pm: Dubawi Stakes Group 3 (D) | $200,000 | 1,200m

8.50pm: Singspiel Stakes Group 3 (T) | $200,000 | 1,800m

9.25pm: Handicap (T) | $175,000 | 1,400m

Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

How to apply for a drone permit

Individuals must register on UAE Drone app or website using their UAE Pass
Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
Upload the training certificate from a centre accredited by the GCAA
Submit their request

What are the regulations?

Fly it within visual line of sight
Never over populated areas
Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
Users must avoid flying over restricted areas listed on the UAE Drone app
Only fly the drone during the day, and never at night
Should have a live feed of the drone flight
Drones must weigh 5 kg or less

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

States of Passion by Nihad Sirees,
Pushkin Press