Brussels, Europe Brief News –When Apple originally unveiled the Tap to Pay functionality for the iPhone, many people immediately assumed it might leapfrog Square’s successful iPad-based payment terminals. This was the consensus at the time. On the other hand, Square is not avoiding technology in any way. Square retailers will be able to transform their iPhones into contactless payment terminals by using the Square Point of Sale application, which will enable this functionality. Square will still be able to retain these merchants inside its ecosystem. Let’s review Apple’s Tap to Pay service and its performance.
Apple’s Tap Beta Test Launch
As part of its Early Access Program, Square will conduct a beta test for the Tap to Pay technology from Apple later this summer. Square announced on Thursday that it would begin supporting Apple’s Tap to Pay technology later this year.
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This year’s latter part will provide extensive support for the newly formed collaboration, as stated in the press release. After announcing a relationship with Stripe, Apple has followed up with this revelation. As part of its Early Access Program, Square will conduct a beta test for the Apple Tap to Pay technology this summer. Square announced on Thursday that it would begin supporting Apple’s Tap to Pay technology later this year. If a firm is already processing payments using Square, they utilize it.
About Apple’s Tap to Pay Service
Tap to Pay was originally introduced by Apple in February 2022, at which time it was supported initially by Stripe, which is a rival to Square. The partnership between Shopify and Stripe allows for support of payments processed using the Shopify POS app. Because the Tap to Pay functionality is now only available on iPhone models XS and later, and because it also needs customers to have cards or phones that allow tapping to pay, it is possible that the Square dongle may not be phased out any time shortly. The simplicity with which it enables sellers to take a variety of forms of payment is a major selling point for many sorts of businesses. It’s possible that the dongle will continue to be the most convenient choice for many Square customers.
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The Takeaway!
Apple’s Tap to Pay hardware income is a fairly tiny fraction of Apple’s overall revenue, but it is expanding at a steady pace. New businesses might benefit from using contactless payments, which could increase profits, hence why Beta Testing is important.
You can sign up for Square’s Early Access Program right now on the company’s website, even though the company has indicated in a press release that there is a limited number of space available in the program and that it will commence at a later date.
