Circle CEO Jeremy Allaire revealed in a statement on August 14 that tap-to-pay for USDC may soon be available on iPhones, following Apple’s recent updates.
Alaïa said:
“Tap to pay with USDC on iPhone is coming soon! Wallet developers, start your engines!”
Meanwhile, Allaire clarified that Circle has no direct relationship or partnership with Apple or Apple Pay.
On August 14, Apple announced that it would allow third-party apps to use Near Field Communication (NFC) technology for transactions, an update that would enable alternative payment systems that compete with Apple Pay, the iPhone's primary payment method.
The announcement comes after extensive regulatory pressure from bodies such as the European Union. Apple confirmed that the new feature will be available in the upcoming iOS 18.1 update, which will allow developers to enable NFC contactless transactions via a Secure Element (SE) within their apps, without relying on Apple Pay or Apple Wallet.
How USDC tap payments work
The USDC Tap-to-Pay application will leverage Apple's NFC technology, which has been newly made available to third-party developers. The change will allow a range of wallet apps, including those for Web3 and cryptocurrencies, to use NFC for transactions.
Allaire said that an iOS wallet that supports USDC could streamline payments by allowing devices to exchange transaction information with a simple tap. For example, a point-of-sale system could communicate the blockchain address or payment amount on an iPhone and prompt the user to confirm the transaction using FaceID or another authentication method. The app would then process the payment via the blockchain.
Allaire suggested that the development could facilitate direct USDC payments to retailers and also enable the trading of other digital assets, such as NFTs and stablecoins like EURC.
As such, he encouraged wallet developers to integrate the latest Apple iOS SDK in preparation for the introduction of USDC Tap-to-Pay.
Crypto community welcomes initiative
Members of the cryptocurrency community welcomed the initiative, saying it will drive the next stage of cryptocurrency adoption.
“We're excited to see the next wave of blockchain technology in action,” said Idan Levin, partner at venture capital firm Collider VC.
“Fewer clicks, fewer taps, meeting users where they are. Each of these small steps will add up to a moment when we have billions of people using public blockchains.”
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