Apple is planning to introduce a new service that will let small businesses accept contactless payments directly via iPhone without the need for any extra hardware or apps, according to Bloomberg News.
The move – which is expected to roll out in ‘the coming months’ – will essentially turn the iPhone into a payment terminal. This would allow customers to pay for services or products simply by tapping their iPhone or debit card on the back of a retailer’s iPhone.
The new service will particularly benefit SMEs and mobile businesses such as independent retailers, mobile hairdressers and other on-the-move services.
