Apple is working on a service that will enable iPhones to accept payments, thus turning them into payment terminals (via Bloomberg). The new feature would most likely utilize the iPhone’s NFC chip and enable small business owners to accept payments directly with their iPhones.
According to Bloomberg’s sources, Apple has been working on this feature since around 2020, when it bought a Canadian startup company called Mobeewave. Mobeewave was developing technology that would allow smartphones to take payments with the tap of a credit card.
