Apple has announced a new feature for iPhones that allows developers to integrate NFC contactless transactions. Initially available to developers in Australia, Brazil, Canada, Japan, New Zealand, the U.K., and the U.S., this feature holds potential for cryptocurrency payments.
Apple's New NFC Capabilities
According to a recent blog post by Apple, the upcoming update will enable developers to offer NFC contactless transactions on iOS 18.1 and above through the Secure Element in iPhone apps. Successful implementation will allow developers to offer multiple features, including in-app contactless transactions for in-store payments and more.
Developer Requirements
Developers looking to incorporate this new solution into their apps must meet three requirements: make a commercial agreement with Apple, request NFC and SE entitlements, and pay all relevant fees. The NFC and SE APIs will be rolled out to developers in seven countries — Australia, Brazil, Canada, Japan, New Zealand, the U.K., and the U.S. To initiate transactions, users are required to directly open the app or make it the default contactless app and then double-click the side button.
Impact on Crypto Payments
Circle co-founder and CEO Jeremy Allaire sees this as an opportunity for iPhone users to facilitate payments in cryptocurrencies like USDC. He suggested that this development could immensely support the market for NFTs, tickets, and stablecoins like EURC. Allaire also highlighted that this could drive the integration of crypto payment systems into point-of-sale terminals.
Apple continues to innovate by introducing new capabilities for contactless payments, including the potential for cryptocurrency transactions, thereby expanding its technological horizons and impacting global payment systems.
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