Square Announces Plans to Bring Tap to Pay on iPhone to Square Sellers Later This Year, Launches Early Access Program Today

Rhea-AI Summary

Square has collaborated with Apple to enable Tap to Pay on iPhone, allowing sellers to accept contactless payments via the Square POS app using only an iPhone. This feature will be available through an Early Access Program this summer, aimed at enhancing flexibility for sellers and integrating into Square's ecosystem.

Sellers can process payments securely without additional hardware, thus simplifying the payment experience. The initiative aims to support businesses by providing tools that adapt to evolving consumer preferences.

Positive

• Collaboration with Apple enhances Square's offerings.
• Sellers can use only an iPhone to accept payments, reducing hardware costs.
• Early Access Program allows select sellers to test the technology pre-launch.

Negative

• None.

New technology provides sellers with more flexibility at checkout and an easy onramp to Square ecosystem

Sellers can begin testing the Square integration of Tap to Pay on iPhone through the Early Access Program this summer

SAN FRANCISCO--(BUSINESS WIRE)-- Square today announced that it is working with Apple to enable Tap to Pay on iPhone, Apple’s contactless payment acceptance capability, within the Square Point of Sale app. The new offering enables sellers of all sizes to seamlessly and securely accept in-person contactless payments with only an iPhone and Square’s industry leading POS app. Ahead of publicly launching the service later this year, Square also announced an Early Access Program for Tap to Pay on iPhone, allowing select sellers to begin testing the new technology.

Tap to Pay on iPhone provides sellers with a simple solution to accept contactless payments with no additional hardware, and integrates with Square’s broader ecosystem of tools built to help them start, run, and grow their business. Using just the Square POS app and an iPhone, sellers will be able to seamlessly and securely take contactless payments with Tap to Pay on iPhone. This builds on Square's powerful software which helps sellers drive more business with marketing and loyalty programs; easily track and manage product inventory; and even simplify their cash flow with business banking tools that provide them instant access to their Square sales.

“As a seasonal business that’s always on the move, it’s important to have an easy-to-use, reliable mobile option for taking payments,” said Teddy Rojas, owner of Kona Ice Vacaville, an early participant in Square’s Early Access Program. “Square and Apple are making it really convenient to make sure we never miss a sale. With Tap to Pay on iPhone, I can process contactless payments quickly, even on cellular service, and it provides a really straightforward experience so new staff can easily get up and running on taking payments on an iPhone.”

The in-person payments landscape continues to evolve, driven by buyer preferences for contactless payments and encouraged by an industry-wide migration towards more secure payments enabled by NFC technology. Since democratizing card acceptance more than a decade ago, Square has remained committed to lowering the barrier to entry for new entrepreneurs while ensuring sellers can continue to meet their business and customers’ needs with innovative products.

With Tap to Pay on iPhone, sellers gain more flexibility to unlock new commerce experiences and help ensure they never miss a sale, whether that involves empowering staff to line bust in retail environments for faster checkouts, or equipping professional services workers to take contactless payments on the go. Customers get the convenience of using contactless credit or debit cards, as well as digital wallets such as Apple Pay, to make seamless and secure purchases wherever they shop.

“Square’s purpose is rooted in economic empowerment, which is why we’ve always offered a free way for businesses to get started using our services,” said David Talach, Head of Financial Services at Square. “Bringing Tap to Pay on iPhone into the Square ecosystem ensures that new sellers will have another free option to get up and running, while providing businesses of any complexity with more flexibility to adapt their commerce experiences to evolving consumer preferences and changing industry trends.”

Space in Square’s Early Access Program for Tap to Pay on iPhone is limited. Square sellers and new merchants interested in learning about Square’s Early Access Program for Tap to Pay on iPhone can visit squareup.com/get/tap-to-pay for more information.

About Square

Square helps sellers more easily run and grow their businesses with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square is part of Block, Inc. (NYSE: SQ), a global technology company with a focus on financial services. For more information, visit www.squareup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220602005347/en/

PR contact: press@squareup.com

Source: Block, Inc.

FAQ

What is Tap to Pay on iPhone announced by Square?

Tap to Pay on iPhone is a new feature allowing sellers to accept contactless payments using just an iPhone and the Square POS app.

When will the Tap to Pay on iPhone feature be available?

The Tap to Pay on iPhone feature will be tested through an Early Access Program this summer, with a public launch planned for later this year.

How does Tap to Pay on iPhone benefit sellers?

It allows sellers to accept payments without additional hardware, providing more flexibility and the ability to adapt to changing consumer preferences.

Who can participate in the Early Access Program for Tap to Pay on iPhone?

Select sellers identified by Square can participate in the Early Access Program for testing the new technology.

What company is behind Square and its stock symbol?

Square is part of Block, Inc., which is publicly traded under the stock symbol NYSE:SQ.