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Apple to allow cryptocurrency payment on iPhones

Apple Tap to Pay

The giant mobile tech company Apple, unveiled a new feature "Tap to Pay" that will enable iPhone users to make crypto payments across various merchants in the U.S.

According to the press release, with the Tap to Pay iPhone-owning merchants to receive contactless payments by using their mobile devices as a point of sale machine, with the use of near-field communication (NFC).

Apple said that the Tap to Pay feature will be available shortly and would expand support to "Apple Pay, contactless credit and debit cards, and other digital wallets, from prominent payment networks such as American Express, Discover, Mastercard and Visa."

What this means is that iPhone users will not be able to use the Tap to Pay feature for making direct payment transactions for Bitcoin and other cryptos unless through Coinbase Card, Visa Card etc.

Apple has mentioned a privately held financial services company, Stipe to be the first payment platform to offer Tap to Pay on iPhone to its business users and additional payment platforms and apps will follow later this year. 

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