Thursday, June 20, 2024

A new Apple iPhone feature will allow shops to accept cryptocurrency payments

Mobile payments are nothing new to shoppers, but a new iPhone will include a feature to make payments with cryptocurrency easier.

Just a few days ago, Apple announced that its new iPhones will have a new feature – Tap to Pay – with which shoppers can pay any merchant with crypto. Any merchant who has a crypto account and an iPhone can get contactless payments assisted by NFC technology. NFC stands for near-field communication. This new feature will support all payment modes – credit/debit cards, digital wallets, etc. in contact free mode. Unless Apple sets up barriers against crypto payments, any user with visa cards, Coinbase etc. can choose to pay with that method.

According to Apple, their first platform to offer this alternative is Stripe – an Irish-American JV. As recently as August 2021, Coinbase, a major exchange in the crypto world, integrated its operations with Google Pay and Apple Pay. This integration makes it easier for investors to buy crypto on their platform. As per Cointelegraph reports, this move made it easy for customers based in the US to buy crypto using credit and debit cards issued by US banks. Purchases were made using Apple Pay.

Cash App is another service which was developed by Jack Dorsey, Twitter’s Co-founder. This app works on BTC’s Lightning Network to transfer bitcoins. Thanks to the introduction of this new feature, App users can take care of BTC transactions quickly and easily. This feature is available for use all over the US, except for New York.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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