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- Apple Inc. launched Tap to Pay on iPhone, a service that enables U.S. merchants to accept Apple Pay and other contactless payment services with an iPhone and an iOS app. Long speculated, especially since Apple’s 2020 acquisition of Mobeewave Inc., which developed the ability to accept payments via an NFC link, Tap to Pay on iPhone means payment platforms and app developers can integrate the service with no need for an additional device or dongle. Stripe Inc. will be the first payment platform to offer the service to its business clients, including the Shopify Point of Sale app this spring. Additional providers are to follow later this year, Apple said. Once Tap to Pay on iPhone becomes available, merchants will be able to unlock contactless payment acceptance through a supporting iOS app on an iPhone XS or later device. At checkout, the merchant will prompt the customer to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the merchant’s iPhone, and the payment will be securely completed using NFC technology. Apple said all Tap to Pay on iPhone transactions will be encrypted and processed using the Secure Element in iPhone. Apple did not immediately provide a specific timeframe for availability.
- American Express Co. launched a checking account with no monthly fees, no minimum balance, and an associated debit card that allows users to earn rewards on spending.
- Payroc WorldAccess LLC launched its ConsumerChoice product for card-not-present transactions for card-based and automated clearing house payments.
- Repay Holdings Corp. announced an integration with C&R Software, which serves the collections industry, via Repay’s BillingTree unit.
- Jack Henry & Associates Inc. announced a multi-year strategy to provide more cloud-based services.
- Worldpay, a unit of FIS Inc., said it is working with Crypto.com and will be a global validator and operator for the Crypto.org Chain, a public blockchain.
- GoCardless said it raised $312 million in Series G funding, led by Permira. GoCardless said it processes more than $25 billion in annual transactions for more than 70,000 businesses globally.
- The Electronic Transactions Association released a white paper on payment industry efforts to broaden participation in the financial system.
- ACH governing body Nacha said Webster Bank is now a direct member of the organization.
- Fiserv Inc. said its agreement with UnionPay International, a China-based card issuer, expanded to enable issuance of virtual and physical UnionPay card across international markets and to expand merchant acceptance of the card outside of mainland China.
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