Apple has now brought its contactless payments platform to its 50th market, marking a major milestone in the company’s global push to turn the smartphone into a full-service point-of-sale terminal. Accepting payments on a phone has become a critical lifeline for small businesses and independent workers—from gig drivers to creators.
Apple has long targeted this segment with its tap-to-pay platform, and the service is now available in Singapore. The technology, sometimes called tap-to-phone, allows merchants to accept contactless payments directly on their devices through both digital wallets and physical cards. In the past, small business owners typically needed to purchase or rent a dedicated POS terminal for the same functionality.
“It’s great that Apple continues to expand the available footprint for tap-to-phone,” said Don Apgar, Director of Merchant Payments at Javelin Strategy & Research. “While POS platforms like Square and Clover continue to expand in small storefronts, tap-to-phone brings that same level of efficiency in embedded payments to merchants that don’t operate from a storefront.”
“This key market includes field service providers like tradespeople, and individuals in the creator and gig economies that need a fast, secure way to accept cashless payments from customers,” he said.
Expanding Worldwide
The rollout comes amid a surge of tap-to-pay solutions, a trend accelerated by Apple’s decision to open its NFC technology to third-party developers. That shift has thrust the tech giant deeper into a crowded small business POS market that once dominated by Square dongles.
Apple launched the service in eight countries earlier this year: Belgium, Croatia, Cyprus, Denmark, Greece, Iceland, Luxembourg, and Malta. And its arrival in Singapore brings the total to 50 countries and regions.
As in other markets, Apple has strived to make sure its platform is compatible with major domestic payment methods. In Singapore, the platform will support payment Adyen, Fiuu, HitPay, and Revolut, as well as cards issued by Visa and Mastercard, among others.
Banking on Ubiquity
Despite this rapid proliferation, small business owners now have more options than ever. Many small business payment terminals, including models from Clover and Square, closely resemble smartphones, but these devices are still largely designed for merchants with employees.
Visa also offers a tap-to-phone solution, which has experienced a threefold increase in adoption over the past year. While Visa may have a more developed payments infrastructure, the near-ubiquity of the iPhone may give Apple an advantage in this market.
