According to reports, the company has been working on a new feature since 2020 - then it acquired the Canadian startup for $100 million, which developed a technology that allows smartphones with NFC modules to accept payment by bank cards. NFC is already used on the iPhone for Apple Pay payments.
To accept payments on the iPhone, merchants in some countries can already use special terminals connected to the smartphone via Bluetooth - a market dominated by Square technology developed by Block Inc. The new feature will turn the iPhone itself into a payment terminal, allowing small businesses like food service owners and hairdressers to accept funds from bank cards or compatible smartphones. Apple is expected to start rolling out themed software updates in the coming months. The company expected to present the first beta version of iOS 15.4 in the near future, and the release for the mass user will take place, presumably in the spring. Apple itself declined to comment. Apple has long been trying to enter the payments market: in 2019 in the US, it launched the Apple Card, launched Apple Cash virtual service for digital transactions, and is considering an Apple Pay service that allows you to pay for purchases in installments. The iPhone won't be the first smartphone to use technology to accept payments. Samsung, which backed the startup until it was sold to Apple, was using bank card payments on some of its devices as early as 2019. How everything will be arranged is not yet known.
Google will add support for cryptocurrencies on digital cards of its Google Pay payment service, citing Bill Reedy, director of commerce and payments at the company. Customers will be able to store digital currency, but not pay with it. The corporation has already entered into partnership agreements with the Coinbase and Gemini exchanges and the payment service.
In addition, for a massive reform of its payment system, Google hired former PayPal CEO Arnold Goldberg. Reedy said the move is intended to expand the functionality of Google Pay to provide a wider range of financial services, including support for cryptocurrencies. The company intends to make a "major overhaul" of its payment service, as it lags far behind its main competitors - Apple Pay and Samsung Pay.
To attract more users, Google wants to create a "comprehensive digital wallet" that will support digital event tickets, airline tickets, and vaccination passports. Reedy did not specify when Google would allow cryptocurrency transactions. However, he noted that the company looks forward to further cooperation with crypto companies. “Cryptocurrency is something we pay a lot of attention to. As the demand of users and sellers develops, we will develop along with it,” the top manager said.
Meanwhile, the American electric car giant Tesla fulfilled the promise of its head Elon Musk and began accepting Dogecoin cryptocurrency for payment. At the same time, the company does not consider other digital assets as a means of payment. Against the backdrop of this message, Dogecoin soared against Bitcoin by 18 percent.
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