Apple recently revealed that it would be adding support for Near-Field Communications (NFC) tags and stickers that are capable of initiating Apple Pay payments. This can be achieved without the need to download a third-party app for payments, meaning that an end user can simply tap on an NFC tag-enabled product, rental item, parking meter, or other item with their iPhone, verify with Face ID, and complete the payment transaction. The news should provide a further incentive for product vendors and owners to incorporate NFC tags into their items, building on recent advancements in NFC tag production and the availability of very low-cost tags on the market.
You must be a subscriber to view this ABI Insight.
To find out more about subscribing contact a representative about purchasing options.