PayPal and Venmo will soon support Tap to Pay on iPhone
I have PayPal open in that Latest Earnings Report (PDF) US-based merchants will be able to accept payments using their iPhone in the near future without the need for dongles and card readers. The payment solution will integrate Apple’s Tay to Pay technology ‘soon’. This means that businesses and sellers will easily be able to receive payments made via contactless debit or credit cards, as well as via mobile wallets including Apple Pay, through the PayPal or Venmo app. They simply have to make sure they are using an iPhone XS or later model.
Apple first announce Tap to Pay feature on iPhone in February of this year. A few months later, employees were seen at the Apple Park Visitor Center in Cupertino Tests feature. Since it makes payments as easy as bumping phones together, it seemed like it could be a threat to payment companies like Square. However, Squire quickly stepped on board and Launched Tap to Pay integration in September after the early access program runs.
In addition to the Tap to Pay news, PayPal has also revealed that it is adding Apple Pay as a payment option to its payment solution for merchant platforms. And starting next year, customers in the US will be able to add PayPal and Venmo credit and debit cards to their Apple wallets. In a statement sent to BloombergDan Shulman, CEO of PayPal, said the company is “very pleased to be working with Apple to improve it [its] Offers for … for PayPal and Venmo merchants and consumers. It’s also worth noting that PayPal briefly touched on making Venmo available as an exit option For some US Amazon users in their earnings report. The company reiterated that the feature will roll out to everyone in the country this upcoming holiday season.
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