[NEWS] USDC payments now available with Apple Pay

Apple announced on the 14th that starting with iOS18.1, developers will be able to offer NFC contactless transactions using Secure Element from within their own apps on the iPhone, separate from Apple Pay and Apple Wallet.

The new NFC and SE (Secure Element) APIs will allow developers to offer in-app contactless transactions for in-store payments, car keys, closed-loop transportation, corporate badges, student IDs, home keys, hotel keys, merchant points, event tickets, and more. Government-issued IDs will also be supported in the future.

EU regulators have been pressuring the company for years to provide such access, hoping to level the playing field for financial services companies competing with Apple Pay, and now it's about to happen.

Under the new scheme, authorized developers will be able to use the NFC chip for a variety of payment and ID applications under a "commercial agreement," by registering with Apple and paying "associated fees."

While the iPhone does not directly support crypto payments, USDC users will be able to make in-app purchases with credit and debit cards through Apple Pay.

With Apple Pay, users can store their credit card information on their iPhone device and use it to pay at contactless terminals in stores or purchase items through apps, instead of storing the actual card number on the device or on Apple's servers.

Circle said in a statement that this is powerful for crypto businesses, as it allows them to build a strong connection with customers who want to pay with more traditional payment methods and make it easy to buy crypto using Apple Pay at their favorite exchanges. In fact, Apple Pay and Circle's Payments solution will enable crypto businesses to accept payments from customers who have never tried crypto before.

USDC payments available with Apple Pay

Circle also said that this integration will make it easier to check out with Apple Pay and USDC, helping to expand business for NFT marketplaces, blockchain games, crypto exchanges, crypto wallets, and international remittance providers. 

It also added that traditional businesses can use this new feature to move more retail payments to digital currency and enjoy the benefits of USDC payments.

Circle claims to be expanding its services, which are primarily focused on retail trading and investment, to become a B2B partnership. The Boston-based company announced plans in early August to develop and operate a euro-pegged stablecoin on the Solana (SOL) network.

Reference: Apple
Image: Shutterstock

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