<img src="https://crypto.news/app/uploads/2024/03/crypto-news-USDC-option01.webp” />
Stablecoin issuer Circle plans to enable tap-to-pay feature using USDC on Apple iPhones
In an August 14 post on x, the company's CEO Jeremy Allaire pointed out a recent… advertisement from the California-based tech giant, where it said it would allow third-party developers to integrate the iPhone's near-field communication chip into their respective apps.
The NFC chip enables short-range wireless communication between devices when they are in close proximity, typically within a few centimeters. This enables contactless data exchange, such as making payments or sharing files, by creating a secure connection between NFC-enabled devices.
Allarie's Circle plans to take advantage of this feature, which was previously limited to only Apple's native platforms, such as Apple Wallet and Apple Pay.
According to Allaire's explanation in a x.com/jerallaire/status/1823820908131443158″ target=”_blank” rel=””>follow-up postCryptocurrency wallets on iPhones using this feature could receive information such as “which blockchain address will accept USDC or the amount to pay” from a point-of-sale device.
The transaction would be secured through Apple's biometric verification process, such as FaceID, reinforced by Apple's Secure Element, a dedicated hardware used in Apple devices that stores sensitive information isolated from the rest of the device's hardware and operating system.
“Wallet developers should begin using the latest Apple iOS SDKs that support this and prepare their apps for tap-to-pay USDC payment (…) PoS hardware and software companies should prepare firmware updates to be able to send and receive these NFC instructions, and work with their payment processors to ensure those companies are updated to support native USDC settlement.”
Jeremy Allaire, CEO of Circle
Allaire explained that the feature could be used in conjunction with a “high-throughput, low-cost” blockchain network to enable “direct USDC payments to the merchant.” He added that the feature’s usability extends beyond USDC and could be implemented for other nft-based applications and stablecoins.
Apple's latest SDK update is rolling out in the US, UK, Canada, Japan, New Zealand, Australia and Brazil.
The tech giant has stayed away from the cryptocurrency sector and has even imposed several restrictions on apps linked to the sector. Last year, the company was criticized for its policy of charging a 30% commission on in-app nft sales made through the App Store.
Before that, Apple blocked social media platform Damus, which had a bitcoin tipping feature. According to the company, the tipping feature violated App Store policies, which mandate the use of Apple's in-app payments.
