It appears like Apple is considering launching a new service that would allow businesses to use iPhones as POS (point of sale) terminals without the need for any additional hardware, according to a recent Reuters article. Customers will be able to pay with NFC directly by placing their contactless credit/debit cards, iPhones, or Apple Watches on another iPhone in the coming months via a software update.
No one knows if this capability will be incorporated into the Apple Pay system itself or whether Apple will work with existing payment companies. To use an iPhone or iPad as a point-of-sale terminal, merchants can currently employ hardware attachments like Block Inc.’s Square readers that plug into the device.
Apple Pay, Google Pay, Samsung Pay, bank cards, and NFC-enabled wearables are just some of the payment methods supported by third-party apps for Android smartphones that may now be used on iPhones as a Software POS (Soft POS).