Apple to let iPhones accept credit cards without extra hardware - Bloomberg News


FILE PHOTO The Apple logo is seen at an Apple Store as Apples new 5G iPhone 12 went on sale in Brooklyn New York U.S. October 23 2020.  REUTERSBrendan McDermid

FILE PHOTO: The Apple logo is seen at an Apple Store, as Apple's new 5G iPhone 12 went on sale in Brooklyn, New York, U.S. October 23, 2020. REUTERS/Brendan McDermid

(Reuters) - Apple Inc is planning a new service that will allow small businesses to accept payments directly on their iPhones without any extra hardware, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

For payments to get accepted on an iPhone, retailers currently use payment terminals to receive money on their iOS devices that are connected via Bluetooth, such as Block Inc's Square payment systems.

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