Popular online payment service, PayPal has announced support for Apple’s new ‘Tap to Pay’ payment service on PayPal and Venmo iOS apps.
In May this year, Apple launched ‘Tap to Pay’ for merchants to easily and quickly accept payments via digital wallets or credit/debit cards. Using the ‘Near Field Communication’ (NFC) technology, the new contactless payment service turns an iPhone into a payment terminal and removes the need for any additional hardware or payment terminal.
Merchants can receive payment through a single tap of customers’ physical or digital cards on their iPhones.
PayPal support for ‘Tap to Pay’ is a positive indicator of the payment service’s expansion
In its latest earnings report, PayPal wrote that American merchants would soon be able to accept payments via Apple Tap to Pay.
Leveraging Apple’s Tap to Pay on iPhone technology, U.S. merchant customers will soon be able to accept contactless debit or credit cards and mobile wallets, including Apple Pay, using an iPhone and the PayPal or Venmo iOS app.
The online payment company also said that it was working on adding Apple Pay support in checkout flows on merchant platforms and iOS users would be able to add PayPal and Venmo network branded credit and debit cards in the Wallet apps which would be used in locations Apple Pay was accepted.
Currently, Tap to Pay is only available in the United States for payment at Apple retail locations. It is also supported by Square on iOS for merchants, Stripe and Adyen, Thus, PayPal support comes as a positive indicator of the service’s expansion.
Merchants require iPhone XR or newer models to use the ‘Tap to Pay’ service.