Apple announces a way to buy stuff by tapping iPhones together
Summary
The announcement effectively turns iPhones into point-of-sale terminals without additional hardware. Block, whose first major product was a smartphone dongle that allowed merchants to accept credit card payments, dropped just over 2% in trading on Tuesday. Apple said that Stripe would be the first payment operator to offer the service, and it would be integrated into Shopifys point-of-sale product. The announcement is the latest move from Apple into the financial services industry. Apple reported $68.43 billion in services revenue for its fiscal 2021, which ended in September.
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