In the future, shop operators will be able to use an iPhone to receive payments instead of an expensive payment terminal. However, there is still a restriction when Apple launches “Tap to Pay” in Germany.
In the future, retailers and service providers will be able to accept contactless payments from credit or debit cards, Apple Pay and other digital wallets without special payment terminals. Apple is launching its Tap to Pay payment service on the iPhone in Germany today, which was already introduced in the USA in February 2022 and then in ten other countries.
Tap to Pay works with contactless credit and debit cards from payment networks such as American Express, Discover, Mastercard and Visa. The Girocard, which is popular in Germany, will not be supported from the start. But that is set to change soon: “This year, the Sparkassen-Finanzgruppe will be the first partner to enable contactless payment with the Girocard,” said Jennifer Bailey, Vice President for Apple Pay and Apple Wallet at the company, to the dpa.
“With Tap to Pay on iPhone, merchants now have a secure and convenient way to accept contactless payments using iPhone without the need for additional hardware,” said Bailey. In collaboration with payment platforms, app developers and payment networks, Apple is making it easier for businesses of all sizes to accept contactless payments and grow their business.
“Apple doesn’t know what is being bought”
Customers don’t need to change anything with Tap to Pay. Instead of an NFC terminal, they are presented with an iPhone to complete the transaction. As with Apple Pay, all payment transactions made with Tap to Pay on the iPhone are encrypted to ensure security and data protection. “Apple doesn’t know what is being bought or who is buying it,” Bailey promised.
In order to offer Tap to Pay to customers, retailers must install the app of a compatible payment provider on the iPhone. At the start in Germany, these are Adyen, Commerz Globalpay, myPOS, Nexi, SumUp and Viva. Over the course of this year, service providers Mollie, Payone, Revolut, the Sparkassen-Finanzgruppe and Stripe will also support the service. Retailers then also pay the usual transaction fees for card payments to the payment providers. Tap to Pay is also supported by older iPhone models (iPhone Xs or newer).
Source: Stern
