Summary:<\/p>\n\n\n\n
According to a report from Reuters<\/a> on Thursday, Apple\u2019s upcoming \u201cTap to Pay\u201d feature for iPhones will onboard Square\u2019s payment facilities from Block Inc, allowing for in-person contactless payments and faster transactions as the tech giant gears up for a push into the fintech industry.<\/p>\n\n\n\n Square payments is a subscription-based transaction service developed by Block Inc (formerly Square Inc) to power quick and secure settlements for small and medium-sized businesses. The company also owns the popular peer-to-peer payments portal known as Cash App, which notably supports Bitcoin transactions.<\/p>\n\n\n\n The collaboration between both companies starts with an Early Access Program to allow sellers and vendors to test out the feature. Sellers only require an iPhone and a Square Point-of-Sales (PoS) app to leverage the service, per the report from Reuters. <\/p>\n\n\n\n However, Square\u2019s PoS app does not support crypto payments, unlike the Cash App service. It remains unclear whether Jack Dorsey\u2019s Block will enable digital asset payment facilities for Square\u2019s PoS service.<\/p>\n\n\n\n Apple previously announced that the feature was going live for business customers in the US starting Summer of 2022. The tech giant also unveiled Shopify Point and Stripe as its first partners for the service back in February.<\/p>\n\n\n\n The tech giant has continued to dip its toes in the world of cryptocurrencies since 2019 after Apple Pay\u2019s Vice President Jennifer Bailey disclosed that the company had eyes on digital assets. Bailey also said that Apple was exploring<\/a> the industry\u2019s long-term potential.<\/p>\n\n\n\nApple\u2019s Fintech and Crypto Expansion <\/h2>\n\n\n\n