If you have an iPhone, you may no longer need to worry about finding a credit card payment terminal, as Apple is rumored to be working on a way to accept credit cards on your phone.
iPhones can currently accept credit cards, but only through third-party apps like Square Reader. iPhones will no longer require the use of third-party applications with this feature, according to Reuters, which will arrive as a software update to Apple’s mobile devices. With a single tap, individuals and small businesses would be able to accept payments from debit and credit cards.
It’s possible that the iPhone’s NFC chip will allow for this flexibility, though there’s no word on when the feature will be available.
The best part about this technology is that it eliminates the need for Apple customers to buy new hardware, bringing a new level of convenience at no cost. There are still some questions that remain unanswered. Will the feature be integrated into Apple Pay or will it be available as a stand-alone app? We’ll know more once the new system is implemented.
