Apple has been investing in payment technologies for a long time. Since Apple Pay was introduced in 2014, the company has also launched a peer-to-peer payment platform and even its own credit card. Now the company is reportedly working to enter the payment terminal market using the iPhone – but the iPad should also be part of that plan.
What the rumors say
A recent Bloomberg report claims that Apple has been exploring ways to turn the iPhone into a payment terminal. The company would enable the NFC technology built into its smartphones to let users receive payments via contactless credit cards (which includes Apple Pay and other digital wallets).
This would help small businesses accept credit card payments without having to buy external hardware from financial companies. The feature is being developed based on resources from Mobeewave, a startup focused on mobile payments that was acquired by Apple in 2020 for $100 million.
Since the iPhone is the only iOS device that features NFC (a short-distance com
