Upcoming iOS update will enable iPhones to accept contactless payments

The Apple iPhone can accept contactless payments in the coming months via a software update according to Bloomberg. 

While current iPhones can accept credit card payments with third-party hardware options such as Square Reader, Apple's upcoming payment service will allow the iPhone to accept contactless payments without extra hardware.

Bloomberg says it is not known at the moment if the payment service will be integrated with Apple Pay or launch with a partner. The payment service is based on Mobeewave's technology, a startup which Apple acquired two years ago for $100 million.

Source: Bloomberg via The Verge

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