Circle Will Add Tap And Go Payment Functionality For iPhones
Circle, the firm behind the USDC stablecoin, is set to introduce tap-and-go payments on iPhones now that Apple has opened access to secure payment technologies for third-party developers. Circle CEO Jeremy Allaire said that users will soon be able to tap to pay with USDC via their iPhones and that wallet developers should prepare accordingly.
Key Details
The new feature will use two notable Apple features, namely the NFC chip and Secure Element (SE), which were previously exclusive to Apple Pay and the Apple Wallet app. This will enable direct USDC payments at points of sale through iPhone wallet apps, which will prompt users to confirm transactions using FaceID.
Allaire emphasized that this development could create a powerful new channel for USDC payments by integrating iPhone technology with efficient blockchain networks. The implications extend beyond USDC, potentially impacting NFTs, other stablecoins like EURC, and various digital certificates. However, the feature will initially launch in select countries, including Australia, Brazil, Canada, Japan, New Zealand, the UK, and the US, with no mention of the EU.
Competition Heating Up
Meanwhile, MetaMask is advancing in payments with a self-custody debit card pilot in partnership with Mastercard and Baanx, enabling UK and EU users to spend directly from crypto wallets. Stripe has also resumed cryptocurrency payments, starting with USDC on Solana, Ethereum, and Polygon blockchains, after previously halting support for Bitcoin in 2018.
Additionally, Singapore-based Triple-A plans to add PYUSD, the stablecoin introduced by PayPal, to its supported tokens by the end of June next year, alongside Bitcoin, Ether, and stablecoins by Tether and Circle.
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