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With a New Apple iPhone Feature, Cryptocurrency Payments May Become Easy Peasy Crypto Squeezy

Apple announced a Tap to Pay feature which will be implemented this year. The new function provides the possibility for merchants owning an iPhone to receive contactless payments via their NFC chip connection. The feature will be added to Apple Pay, which already supports credit and debit cards and other digital wallets.  

Therefore, any card either physical or virtual that is already connected to your Apple Pay can become a payment terminal. As the cards of Coinbase or Crypto.com are supported by Apple Pay, receiving a crypto payment is becoming extremely smooth and easy in theory. 

The transaction, in this case, is in fiat money but is invisible for an ordinary user.  

The function should work unless Apple prevents this intentionally. Considering previous statements, Apple sees potential in the field and prevention seems unlikely to happen.  

Incidentally, the first company to offer the Tap to Pay feature on iPhone will be Stripe, who promised to return to the crypto market in 2022.  

 

Check Apple’s position regarding crypto here: 

Tim Cook of Apple Claims Metaverses Have “Potential” 

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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