Apple Inc. is planning a new service that will let small businesses accept payments directly on their iPhones without any extra hardware, according to people with knowledge of the matter.
The upcoming feature will turn the iPhone into a payment terminal, letting users such as food trucks and hair stylists accept payments with the tap of a credit card or another iPhone onto the back of their device.
But the big question is, given Apple's reluctance for competition against their own products, will they still allow the new Mastercard app which will be a direct competition to this? Apple's app will likely work with Apple Pay, and Mastercard's will likely work with Mastercard itself.
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iPhones will soon accept tap payments#
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Apple Apple plans to launch a service that will enable iPhones to receive direct payments through NFC.
