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Apple opens tap-to-pay to competitors, but can they take advantage?

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Apple opens tap-to-pay to competitors, but can they take advantage?

Apple is expanding its tap-to-pay technology to be used by competing digital wallets on iPhones. This move opens up the opportunity for users to make in-store payments with various wallet apps, not just Apple Pay. However, the competing apps will need to have a commercial agreement with Apple and pay associated fees. While this opens up new possibilities for digital wallet companies like PayPal, there are still challenges to overcome, such as getting users to switch from the default Apple Pay and ensuring compatibility with payment terminals. Nevertheless, this move provides an opportunity for digital wallet companies to boost user engagement and expand their services beyond online checkout payments.

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