iPhones to work as digital payment points in US
-
China's Alibaba to invest $50 bn in AI, cloud computing
-
Indonesia launches new multi-billion-dollar sovereign wealth fund
-
Most Asian markets track Wall St loss; Hong Kong extends gains
-
Japan warns of avalanches, icy roads ahead of more snow
-
Conservatives win German vote as far-right makes record gains
-
'Captain America' slips but clings to N. America box office lead
-
Tens of thousands vow support for Lebanon's Hezbollah at slain leader's funeral
-
Tens of thousands pour in for Beirut funeral of slain Hezbollah leader
-
Germans vote under shadow of far-right surge, Trump
-
Hong Kong and Singapore lead Asia's drive to cash in on crypto boom
-
Well-off Hong Kong daunted by record deficits
-
Trump tariffs shake up China's factory heartland
-
Top issues in Germany's election campaign
-
Friedrich Merz: conservative on verge of German chancellery
-
Germans go to vote under shadow of far-right surge, Trump
-
Oscars favorite Baker says indie film 'struggling' as 'Anora' tops Spirit Awards
-
'Worst is over' as Chile's 'stolen' babies reunite with mothers
-
France's agriculture show, an outlet for angry farmers
-
China's EV maker XPeng eyes doubling global presence by year's end
-
Germany on eve of elections under shadow of US-European rift
-
France still seeking to block EU-Mercosur trade deal: Macron
-
Ukraine's earth riches are rare and difficult to reach
-
On $15 a month, Venezuela's teachers live hand to mouth
-
'See you in court': Trump, governor spar over trans rights
-
US stocks tumble on fears of slowdown
-
Cuba opens solar park hoping to stave off blackouts
-
German flying taxi start-up's rescue deal collapses
-
Stock markets diverge, oil prices slide
-
'Queen of Pop' Madonna lambasts 'King' Trump
-
Apple says halting data protection tool for UK users
-
Female chefs condemn sexism in British kitchens
-
US, China economic leaders raise 'serious concerns' in first call
-
Russia sells famed imperial prison at auction
-
Stock markets rise as Alibaba fuels Hong Kong tech rally
-
France full-back Jaminet returns to rugby after racist video ban
-
Chinese AI companies celebrate DeepSeek, shrug off global curbs
-
Asian markets advance as Alibaba fuels Hong Kong tech rally
-
Nissan shares jump 11% on reported plan to seek Tesla investment
-
Trump aid cut imperils water scheme in scorching Pakistan city
-
Just 17% of Japan citizens hold passport, data shows
-
Most Asian markets rise as traders pick over week of headlines
-
Japan's core inflation rate hits 19-month high
-
How a 'forgotten' Minnesota monastery inspired 'The Brutalist'
-
Japan's core inflation rate hits 3.2% in January
-
Stocks mostly fall on tepid Walmart outlook, geopolitical worries
-
Musk in X spat with Danish astronaut over 'abandoned' ISS crew
-
Bond franchise shake-up moves spy into Amazon stable
-
New York seeks hundreds of millions of dollars in 'vaping epidemic' case
-
Moon or Mars? NASA's future at a crossroads under Trump
-
Spotify adds more AI-generated audiobooks
NYSE - LSE
iPhones to work as digital payment points in US
Apple announced Tuesday a new service that will allow US businesses later this year to accept payments on their iPhones from touchless cards or other iPhones, a new challenger in the booming payments business.
The iPhone-maker said no additional hardware will be required. The system will work by tapping buyer's and seller's devices -- thus bypassing payment terminals from firms such as Block.
"The new capability will empower millions of merchants across the US, from small businesses to large retailers, to use their iPhone" to accept payments, Apple said in a statement.
Payments platform Stripe will in the spring be the first to offer the "tap to pay" system to their business customers, Apple noted, with others expected to follow later this year.
The system is Apple's latest push into financial services, including its Apple Pay payment feature, and offers competition to Block's smartphone hardware that allows merchants to swipe customers' cards.
As part of "tap to pay," customers in the United States would also be able to use credit and debit cards such as Visa and Mastercard as long as they have the contactless function.
Apple is not the first to turn its flagship smartphone into a payment terminal without requiring additional equipment: South Korea's Samsung launched a similar offer in October 2019.
C.Smith--CPN