Shares of Apple (NASDAQ: AAPL) climbed 1.9% on Tuesday after it announced a new way for merchants to accept payments.
Tap to Pay on iPhone will enable people to buy items easily and securely in the U.S. by simply tapping their phones with that of another iPhone user. The feature will be powered by NFC technology and will connect with Apple's popular mobile payment service, Apple Pay.
Apple will partner with payment processors like Stripe and e-commerce platforms like Shopify to make the service widely available. It will also work with contactless credit cards issued by Visa, Mastercard, Discover, and American Express, among others.
Source Fool.com