Apple expands 'Tap to Pay' functionality in Europe
Getting your Trinity Audio player ready...
As the race for point-of-sale solutions heats up, Apple (NASDAQ: AAPL) is keen on seizing market share by extending its 'Tap to pay' capability to new European countries.
According to a company statement, Apple's contactless payment functionality will be available in eight more European nations. Per the report, merchants in Belgium, Croatia, Denmark, Cyprus, Iceland, Greece, Malta, and Luxembourg will have access to the feature.
The Tap to Pay feature will allow merchants to receive customer payments by tapping cards or digital wallets on the merchants' iPhones. Apple says the contactless payment feature will lean on near-field communication (NFC) technology without additional hardware.
'No additional hardware is needed, so merchants can accept payments from wherever they do business,' read the statement.
Apple is collaborating with payment service providers and app developers to extend the reach of the Tap to Pay functionality. Fintech firms in the new regions can integrate the Tap to Pay feature in the iOS versions of their apps, improving the ability of merchants to receive payments.
Several payment platforms across the eight new EU countries have supported the Tap to Pay feature. Global payment processing company Adyen will support the Tap to Pay feature in all countries except Greece, with European neobank Viva making an expansive presence in the list.
Other worthy mentions include Revolut, Stripe, and Worldline, with Apple confirming that PayPal (NASDAQ: PYPL) and NBG Pay will offer support. Furthermore, the statement notes that contactless cards from leading payment networks like Mastercard (NASDAQ: MA) and Visa (NASDAQ: V) will be compatible with the Tap to Pay feature.
However, Apple does not mention stablecoins or digital asset payments for the Tap to Pay feature. Apple has been throwing its weight behind NFC payments, famously extending its proprietary feature to third parties in the EU.
Tap to Pay functionality race heats up
Apple faces stiff competition from other technology giants in the race for contactless payments. Samsung (NASDAQ: SSNLF) has unveiled its Tap to Pay capabilities for digital wallets, supporting Samsung devices and cards that are not assigned to digital wallets.
Google Wallet (NASDAQ: GOOGL) has joined the race with a contactless payment offering for kids, extending the scope to wearable tech like smartwatches. Rising contactless payments are tipped to contribute toward the anticipated $3 trillion in U.S. digital payment volume in 2025. Digital wallet adoption in Australia surges to a new all-time high
Elsewhere, while Australia's local payment system is one of the most advanced in the world, new data indicates that digital wallet adoption is on the rise.
GlobalData reported that digital wallet usage in Australia has surged to a new peak, growing by 32.2% over the last year. Per GlobalData's Payment Instrument Analytics, the total transaction volumes from digital wallets in Australia rose from AUD 126 billion (US$83.2 billion) to AUD 166 billion (US$110 billion).
The spike in digital wallet adoption in Australia is not a flash in the pan but a combination of several key factors. GlobalData lead banking analyst Shivani Gupta revealed that the main factor is changing consumer behavior, with mobile-based payments reaching a peak.
Furthermore, digital wallet service providers have been increasing their market share in Australia since 2020. Currently, Google, Apple, and Samsung are jostling for market share, luring consumers and merchants with advanced functionalities.
For example, Gupta cites Google Wallet's dual network debit card feature, which is designed to support payments via local and international networks. Others are turning to contactless payment functionalities, with Apple and Samsung gaining traction with their Tap to Pay features.
Digital wallets are onboarding millions of Australians with the additional functionality of QR codes and stablecoin functionalities, streamlining payments for consumers and merchants in the country.
'Like many markets in Asia Pacific, digital wallet adoption is on the rise in Australia, supported by rising consumer preference for mobile payments, and [the] proliferation of digital wallet brands such as Google Pay, Apple Pay, and Samsung Pay,' said Gupta.
These factors have sent digital wallet metrics in Australia through the roof. According to the Reserve Bank of Australia (RBA), nearly 40% of all card transactions in the country are processed through digital wallets.
Per the report, the trend is tipped to continue well beyond 2030 at a compound annual growth rate (CAGR) of 13.7%. The forecast predicts digital wallet transaction volumes to reach AUD 336.1 billion (US$221 billion) by 2030.
Rising adoption rates across the Asia Pacific
The Asia Pacific is the fastest-growing region for digital wallet adoption globally, led by China and India. However, Hong Kong and Singapore are contributing to the soaring metrics with a report tipping digital wallets to surpass credit card use in Hong Kong.
Across the region, cash usage has fallen, fuelled by meteoric digital wallet adoption levels. While the private sector is leading the charge, governments are leveraging digital wallets in the region to disburse funds to citizens, pushing the functionality beyond payments.
Watch: New age of payment solutions
title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 hours ago
- The Sun
Ryanair launches new flights from to two beach holiday hotspots – with fares from £35
RYANAIR has launched flights from Bournemouth to Chania and Rhodes. The new routes both will operate twice per week as part of Ryanair 's summer 2025 schedule. 4 Chania, located in Crete, Greece, is known for its 14th-century Venetian harbour, narrow streets and waterfront restaurants. When exploring the harbour, visitors can see a 16th century lighthouse and the Nautical Museum with model ships, naval objects and photographs. The flight from Bournemouth to Chania takes around 3hr45 and flights start from £34.99 per way. Rhodes, also in Greece, is the largest of Greece's Dodecanese islands. It is home to many beach resorts, ancient ruins and a thriving old town, with medieval streets. Rhodes is also home to a beach resort that's an 'adult playground' has live music at breakfast, huge pool and outdoor cinemas. Named Elissa, it is an indoor playground, with boutique shops, tennis courts, fitness studios and a spa. One-way flights from Bournemouth to Rhodes cost from £51.19. The new routes are two of 21 routes that the airline is operating to/from Bournemouth Airport this summer. Ryanair's comms director, Jade Kirwan, said: "Ryanair is pleased to see the first flights of our new Summer 2025 routes from Bournemouth to Chania and Rhodes take-off today carrying lots of happy holidaymakers. I found the perfect adults-only hotel for an all-inclusive Greek island holiday "These exciting new Summer 2025 routes will both operate two times per week, offering our UK customers even more choice at the lowest fares when booking their summer 2025 getaways" Ryanair's boss also recently warned of record flight delays this summer – with the UK now fifth worst in Europe and is expected to get worse. Comments from the CEO, Micheal O'Leary, came after the airline revealed Europe's worst air traffic control centres (ATCs) for delays and the UK has come in fifth worst with thousands of Brits impacted. Of Ryanair's flights between January 1, 2025 and May 26, 2025, 1,642 flights to/from the UK had been delayed. 4 In total, this meant that nearly 300,000 British passengers were impacted and experienced flight delays. Ryanair stated that the European Commission and European governments "have taken no action to fix their shoddy ATC services and ATC delays will now be even worse in summer 2025". The CEO added that if staff shortages and ATC issues are not sorted, there will be "record ATC flight delays this summer". In January, Ryanair also announced that it was to launch five new routes from a UK airport in time for the summer holidays.
Reuters
2 hours ago
- Reuters
Exclusive: Aide to EU chief joins tariff negotiation team to spur US talks, sources say
BRUSSELS, June 5 (Reuters) - The European Union has changed its team locked in trade talks with the Trump administration, bringing in a close aide to European Commission President Ursula von der Leyen to deal more swiftly with political questions arising from the technical negotiations, three sources familiar with the talks said. The move follows frequent outbursts of frustration by U.S. President Donald Trump at what the White House perceives as slow progress in talks with the EU. Late in May he recommended a 50% tariff on most European goods from June, before backtracking. The move to bring more political decision-making to the EU team reflects challenges confronting the bloc as it negotiates a trading relationship with a U.S. president who has said repeatedly the EU was established to screw the United States. It also reflects the difficulties negotiating trade terms in isolation when Trump has sought to fold non-tariff barriers such as digital services taxes and food standards into the talks. "If you are a trade negotiator you need to be sure you have full political backing, so if the top level is there you feel stronger," one of the sources said. The expanded team, which apart from the von der Leyen aide now also includes a cabinet member of Trade Commissioner Maros Sefcovic, was dispatched to Washington this week after a call between Trump and von der Leyen in which they agreed to fast-track negotiations. Following that call Trump agreed to allow more time for talks between Washington and the 27-nation bloc to produce a deal by July 9. "It was a merger of Commission layers to reinforce and act fast," a second of the sources said of the team's expansion, adding the team's shape could change again as talks continue. U.S. Trade Representative Jamieson Greer said a meeting with Sefcovic in Paris on Wednesday had been constructive and that he was pleased negotiations were advancing quickly. He noted "a willingness by the EU to work with us to find a concrete way forward to achieve reciprocal trade". Sefcovic told reporters that both sides had concluded talks were "advancing in the right direction, at pace," and that high-level contacts would follow shortly. He and Greer had agreed how to "restructure" the focus of negotiations with the United States, he added. Washington was focused on four areas in its negotiations with other countries: tariffs, non-tariff barriers, purchases and economic security, one of the sources said. Trump has already hit Europe with a 50% tariff on steel and aluminium as well as a heightened levy on car imports. The EU is racing to secure a deal before July 9 when "reciprocal" tariffs on most other goods could surge from 10% to as high as 50%. Unlike Britain, the first major economy to reach a narrow trade agreement with the Trump administration, the EU is pushing for a comprehensive deal, with a baseline tariff rate below the 10% now in force. Two of the three sources said additional technical expertise had also been added to the negotiating team, but there had been no changes to the team's leadership. "I think it suits everyone to have the political cover," the first source said.
The Independent
3 hours ago
- The Independent
Denmark blasts ‘unacceptable' pressure from Trump over Greenland
Danish Prime Minister Mette Frederiksen has asserted that Denmark will not succumb to "unacceptable" pressure from the United States regarding control of semi-autonomous Greenland, emphasising the importance of Greenlanders' right to self-determination. President Donald Trump has expressed interest in the United States acquiring the strategically important, mineral-rich Arctic island for national and international security reasons, even suggesting the potential use of force. Frederiksen, in a National Day speech, stated, "The world order we've built through generations is being challenged like never before." She added, "In recent months Greenland and Denmark have been subjected to unacceptable pressure from our closest ally," alluding to the United States. US Vice President JD Vance visited the island in March, criticising Denmark, a fellow NATO member, for its handling of Greenland's safety. Vance proposed that the United States could provide better protection for the territory. Vance's visit occurred after the Demokraatit party's election victory in Greenland. The party advocates for a gradual approach to independence, differing from other parties that propose a more rapid departure. Leaders of Denmark and Greenland have said only Greenlanders can decide the territory's future, and the Danish constitution gives the island the right to seek independence. Fundamental principles in the transatlantic relationship such as national sovereignty, the respect for borders and people's right to self-determination are now at stake, Frederiksen said. "But we don't bend. We Danes are not like that," she added. Denmark's King Frederik, who is popular in Greenland, visited the island in late April in a show of unity amid the diplomatic stand-off with Trump. A 1951 agreement between the United States and Denmark gives the US the right to construct military bases in Greenland as long as Denmark and Greenland are notified. The island, whose capital Nuuk is closer to New York than Copenhagen, boasts mineral, oil and natural gas wealth, but development has been slow and the mining sector has seen very limited US investment.
