cryptoknowmics.com
Apple announced plans to launch Tap to Pay for its iPhone, a new feature that will allow users to make contactless payments to merchants that accept Apple Pay which includes contactless debit, credit cards, and digital wallets. This essentially means that customers would be able to use their cryptocurrency holdings to make payments via Tap to Pay using Coinbase Card, Crypto.com Visa Card, etc. While Apple Pay will most likely not allow direct purchase of goods and services via cryptocurrencies, however, it will convert a user's crypto holdings to match the dollar value requested by the merchant’s point-of-sale machine. Apple further announced that Stripe, will be the first payment platform to offer Tap to Pay on iPhone to its business users and will onboard additional payment platforms and apps later this year.
“As more and more consumers are tapping to pay with digital wallets and credit cards, Tap to Pay on iPhone will provide businesses with a secure, private, and easy way to accept contactless payments and unlock new checkout experiences using the power, security, and convenience of iPhone,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet.
In August 2021, US-based crypto exchange Coinbase integrated Apple Pay and Google Pay to allow users to make crypto purchases on their platform. In June 2021, the exchange went ahead to launch Coinbase Card which converts cryptocurrencies to US Dollars and could be used for purchases and ATM withdrawals. Following Coinbase, Crypto.com launched a similar offering named Crypto.com Visa Card, which can be added to Apple Pay and other major digital wallets.