When the race for sales solutions is heated, Apple (Nasdaq: Aapl) are keen to arrest market shares by expanding its “Tap to pay” ability to new European countries.
According to a Corporate declarationApple’s contactless payment features will be available in eight European countries. Per report, merchants in Belgium, Croatia, Denmark, Cyprus, Iceland, Greece, Malta and Luxembourg will have access to the function.
The Tap To Pay feature allows merchants to receive customer payments by tapping cards or Digital wallets on the merchants iPhones. Apple says the contactless payment function will lean on NFC technology for communication (NFC) without additional hardware.
“No additional hardware is needed, so merchants can accept payments wherever they do business,” read the statement.
Apple collaborates with Suppliers of Payment Services and app Developers to extend the range of the crane to pay functionality. Fintech companies in the new regions can integrate the Tap to Pay feature into the iOS versions of their apps, which improves the merchants’ ability to receive payments.
Several payment platforms in the eight new EU countries have supported the Tap to Pay feature. The global payment company Adyen will support the crane to pay the function in all countries except Greece, with the European Neobank Viva that makes an expansive presence in the list.
Other valuable mentions include Revolut, Stripe and Worldline, with Apple confirming that PayPal (Nasdaq: Pypl) and NBG Pay will offer support. In addition, the statement notes that contactless cards from leading payment networks such as 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 TAP to pay the feature. Apple has thrown its weight behind NFC payments and famous expanded its self -function to Third parties in the EU.
Pressure to pay the functionality race heats up
Apple is facing fierce competition from other technology giants in the race for contactless payments. Samsung (Nasdaq: ssnlf) have revealed its Press to pay capacity For digital wallets, which support Samsung units and cards that are not assigned digital wallets.
Google Wallet (Nasdaq: Googl) have joined the race with one Contact -free payment offer For children, extend the range to portable technology such as Smartur. Rising contactless payments are tipped to contribute to the expected $ 3 trillion in the US Digital payment volume 2025.
Adoption of digital wallet in Australia is growing to a new highest time
Elsewhere, while Australia’s local payment system is one of the most advanced in the world, new information indicates that adoption of digital wallet is increasing.
Global data reported Digital wallet use in Australia has increased to a new peak and is growing by 32.2% over the past year. According to Globaldata’s payment instrument analysis, the total transaction volumes from digital wallets in Australia rose from the 126 billion AUD (US $ 83.2 billion) to USD 166 billion (USD 110 billion).
The Nail in adoption of digital wallet in Australia Is not a flash in the boiler but a combination of several important factors. Globaldata Lead Banking -Analyst Shivani Gupta revealed that the main factor is changing consumer behavior, with Mobile -based payments reaches a top.
In addition, digital wallet suppliers have increased their market share in Australia since 2020. Currently, Google, Apple and Samsung are beating for market shares, attracts consumers and merchants with advanced features.
For example, Guptta quotes Google Wallet’s dual network payment card function, which is designed to support payments through local and international networks. Others turn to contactless payment features, with Apple and Samsung who get traction with their Press to pay features.
Digital wallets are onboarding millions of Australians with the extra functionality of QR codes and Stablecoin functionalities, and streamlines payments for consumers and merchants in the country.
“Like many markets in Asia and the Pacific, digital wallet stretches in Australia, with the support of rising consumer preference for mobile payments and (() spread of digital wallet brands such as Google Pay, Apple Pay and Samsung Pay,” said GUPTA.
These factors have sent digital wallet measurements in Australia through the roof. According to Australia’s reserve bank (RBA), almost 40% of all card transactions in the country are treated via digital wallets.
According to the report, the trend is tipped to continue well over 2030 with a composed annual growth rate (CAGR) of 13.7%. The forecast predicts digital wallet transaction volumes to reach the $ 336.1 billion (US $ 221 billion) by 2030.
Rising adoption rates over Asia and Pacific
The Asia and Pacific is the fastest growing region for adoption of digital wallet globally, led by China and India. But Hong Kong and Singapore contribute to the rising measurement values with a report that tips digital wallets to surpass credit card use in Hong Kong.
Across the region, Cash use has fallenPowered by meteoric digital wallet adoption levels. While the private sector leads the fee, the governments utilize digital wallets in the region to pay funds to citizens and drive functionality in addition to payments.
See: New Age of Payment Solutions
https://www.youtube.com/watch?v=W4varzerwuw Title = “Youtube video player” Ramborder = “0” Allow = “Accelerometer; Autoplay; Clipboard writing; encrypted media; Gyroscope; Image-in-Bild; Web Dividend” Reference Policy = “Strict-Origin-When-Cross-Origin” Allowing Lorscreen = “>”
