Continue to enter the financial services industry! Apple plans to launch a "click to pay" feature on the iPhone

Financial Associated Press (Shanghai, editor Niu Zhanlin) news, Apple announced on its official website on Tuesday (February 8) that it plans to launch a "tap to pay" function on the iPhone, authorizing enterprises to accept contactless payments through click-to-pay on the iPhone. This feature can also be used with contactless credit cards. During intraday session on Tuesday, Apple shares rose about 1.3 percent.

Apple said merchants only need to prompt customers to use iPhones close to merchants such as iPhones or Apple Watch to achieve payments, and payments will be done securely through NFC technology. No additional hardware is required to use the "pay-per-click" feature, and all transactions using the feature are encrypted via the Secure Element.

Apple says payment platforms and app developers can integrate "click pay" on iPhones into their iOS apps and offer them as a payment option to their business customers.

Apple said Stripe will be the first payment platform to offer its enterprise customers a "click-to-pay" version of the iPhone, including this spring's Shopify point-of-sale app. Other payment platforms and apps will follow up later this year.

Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet, said in a statement: "Click Pay on the iPhone will provide businesses with a secure, private, and convenient contactless payment service and unlock new payment experiences."

This is Apple's latest move into the financial services industry. Apple currently operates Apple Pay, a contactless payment service, Apple Pay Cash, a peer-to-peer payment service, and Apple Card, a credit card for iPhone apps in partnership with Goldman Sachs.

Apple began working on click-and-pay features around 2020, when it spent $100 million to acquire a Canadian startup called Mobeewave, which developed a technology to make smartphones accept card payments.