Apple has enabled its smartphones to accept payments from touchless cards or other iPhones, with no extra hardware required. — AP Photo/File
Apple announced Tuesday a new service that will allow US businesses later this year to accept payments on their iPhones from touchless cards or other iPhones, a new challenger in the booming payments business.
The iPhone-maker said no additional hardware will be required. The system will work by tapping buyer's and seller's devices – thus bypassing payment terminals from firms such as Block.
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