JP Morgan is rolling out support for Apple's Tap to Pay to its US merchant clients.
In brief:
-Tap to Pay on iPhone enables merchants to accept in-person contactless payments with a just a tap of their payment cards or mobile wallet
-Apple has been working on the feature since around 2020, when it paid $100 million for Canadian startup Mobeewave
-This partnership will make the technology available to its vast network of clients - including SMEs - over the next year.
What does this mean?
Takis Georgakopoulos, global head, payments, JP Morgan, says: "Enhancing the ability for consumers to pay with their preferred method of payment is part of our broader, customer-centric approach to simplify omnichannel payment acceptance for our merchant clients."
