Apple just opened up tap-to-pay and changed payments forever.

Apple has introduced a major update that will transform in-person payments.

For the first time, Apple is opening up its tap-to-pay feature on iPhones to all developers, allowing us to create new in-person payment experiences that are much more user-friendly and intelligent than before.

💡 What exactly has Apple changed?

Previously, every time you tapped your iPhone to pay, it was essentially replicating the way a plastic card works—communicating with the same old card systems that haven’t changed much in years. But now, Apple has unlocked the potential of iPhone taps to interact with much more advanced systems as well.

This is a game-changer because it finally allows us to change what’s going on “under the hood” in a tap payment. By introducing more intelligence into the underlying transaction, it improves the customer experience while keeping that simple and familiar tap-to-pay initiation.

In other words, the tap remains the same, but what happens after the tap can be much more sophisticated and tailored to modern needs.

💡 Why this matters

This change has finally brought much-needed competition to in-person payments. This will bring with it significant improvements to both customer experience and cost - benefiting consumers and businesses, spurring economic growth.

💡 The future of tap-to-pay is already here

At Overlay, we’ve been building in preparation for this opportunity to supercharge the tap-to-pay experience. In the video below, you’ll see how a tap at a coffee shop not only processes the payment but also automatically handles loyalty rewards, like coffee stamps, and includes a digital receipt.

💡 Security in this new era of payments

As payment processes become more intelligent and flexible, security remains a top priority. Overlay addresses these concerns with a cryptographic protocol specifically designed for transmission over NFC called TapToAuth. Our protocol ensures that every transaction is highly secure, better protecting both the customer and the shop.

💡 Broader implications

Apple opening up tap-to-pay has the potential to bring about widespread change in the payments landscape. By allowing more innovation in how in-person payments are processed, businesses can expect to see reduced transaction fees, improved customer outcomes, and greater efficiency.

💡 In summary..

Apple’s decision to open up tap-to-pay presents a unique opportunity for companies like Overlay to offer smarter, faster, and safer payment experiences. The full impact of this change will unfold over time, but it’s clear that the payments landscape has just shifted in a big way.

For those in payments, retail, or consumer finance, staying ahead of these changes is crucial. If you want to be part of this transformation, now is the time to engage, explore new opportunities, and see how companies like Overlay are pioneering the future of payments.