Apple Accepts Payment in Crypto, enabling users to seamlessly integrate cryptocurrency into their payment methods, marking a significant shift in the way digital transactions are conducted.
Cryptocurrency and NFTs are highly in demand all over the world. Many people have invested their money into NFTs and Cryptocurrencies. So, with this, Apple recently made a shocking and interesting announcement that Apple is not allowing its users to accept and send payments in Cryptocurrencies.
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Apple also introduced a new feature, “Tap And Pay,” which helps users to make crypto payments easier and faster, as many Apple users may think that they need to download another app to pay for it. But the best part of the announcement is that Apple users who want to use and pay in Cryptocurrency, will not need to download any apps or software. You can access the payment terminal and use these features without any hardware and software.
You must have several queries about these features. What type of Technology are they working on, what kind of payment method will be supported, and many more? So, to not waste your time anymore, let’s start.
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How Apple Accepts Payment in Crypto and What It Means for Users
On Feb 9, 2022, Apple announced that it would be introducing a Tap-to-Play feature for iPhone. It means that the customers can use any wallets that will be accessing these features, which includes Crypto.com, Coinbase, and any other similar payment card, until Apple decides to put a direct barrier in the payments.
So this means the deal is about to launch Apple’s own crypto payments system in collaboration with Coinbase. As you know, Coinbase is one of the best Cryptocurrency exchange wallets all around the world. Apple is very interested in Cryptocurrency and Metaverse.
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Coinbase will automatically convert all the Cryptocurrency into US Dollars and transfer it into the Coinbase cards so that you can use it in purchases or withdrawals from ATMs.
To clarify, we should take the example of Coinbase. In June 2022, the company launched its first Coinbase cards and started converting Crypto into US Dollars. Apple Pay uses the same features, as a user can use crypto and transfer funds into US Dollars.
Similarly, Crypto.com also launched its crypto.com Visa Card, which was added to the Apple Play features.
What type of TechnologyTechnology is used in Tap To Pay Crypto Payments Features
This NFC technology enables the two electronic devices, which are placed in the 4cm that is 1.5 inches, to communicate. It is just like Tap to Pay with a Visa Card.
The devices that support the NFC can behave like virtual keyboards and electronic identity documents. As Apple is already using the same NFC technology, Apple will also use this Technology in Tap-To-Pay Crypto Payments methods.
Which Applications will allow users to Tap To Pay with crypto Payments features on iPhone?
As for now, Apple announced The Stripe, an Irish-American Fintech company that developed the first platform that offers users Tap To Pay features on iPhone. Well, more companies may also be joined.
Wrapping Up
So this was the introduction of Tap To Pay Crypto Payments on the iPhone. So I hope that all your queries will be answered. Our team will help you to solve your queries as soon as possible.
Narinder Sharma is a highly skilled Full Stack Developer with a deep passion for Web3 technology and blockchain innovations. With a strong background in Fintech API development, smart contracts, and decentralized applications (dApps), he is committed to building scalable and secure Web3 solutions. Narinder stays at the forefront of emerging tech trends, bridging the gap between traditional software development and the decentralized future.
🚀 Passionate about smart contract development, DeFi, NFTs, and Layer 2 scaling solutions.📈 Dedicated to pushing the boundaries of Web3 adoption and blockchain infrastructure.