this post was submitted on 14 Nov 2023
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Interesting, this could really eat the lunch of Square because if you don’t need additional hardware to accept payments 🤔
I thought the idea of it was that apps like Square could make use of the built in NFC to accept the payment without requiring an extra dongle.
But the Square device itself is a dongle, sure it’s Bluetooth and not tethered to the device, but Apple has set up a system that removes the Square device from the equation
Square have already integrated with Apple's Tap to Pay in some countries.
https://squareup.com/help/au/en/article/7786-get-started-with-tap-to-pay-on-iphone
I see in Australia, but I don’t see if it’s possible in Canada 🤔
… uh Square is using this integration.
Except now Apple is saying you don’t need the Square device to accept payments.
So Square loses out from the processing fees from each transaction if Apple does it itself on the iPhone directly
That’s not true though. The payment processing still runs through square. The hardware is Apple.
Really? Then this is sloppy writing:
“No additional hardware or credit card machine is required to use Tap to Pay on iPhone. The feature uses NFC technology to securely authenticate the contactless payments, plus the feature also supports PIN entry, which includes accessibility options.”
That says to me Square is out of the circle 🤷♂️
Yep, there’s more about it here:
https://squareup.com/us/en/payments/tap-to-pay