Apple plans to turn iPhones into payment terminals, report claims

Another year, another piece of technology that may soon be absorbed into our iPhones.

The devices, like other smartphones, have already sucked up cameras, gaming platforms, and a whole host of other tech that used to be solely separate offerings — and now it looks like payment terminals may be next on the list.

According to Bloomberg, Apple will soon be rivalling the likes of Square by allowing small businesses to turn iPhones into payment terminals. The report cites “sources familiar with the matter.” Sure, you can pay for things using Apple Pay on your iPhone already but this would reverse the situation, making tapped credit or debit card payments possible on the device itself.

Currently, if a business wants to accept payment via an iPhone, they have to use another intermediary device (such as Square) to connect to the phone first. This update would essentially cut out the middleman.

In fairness, the signs have been there for a while. Back in 2020, Apple purchased Canadian tech startup Mobeewave, which uses an app to turn a near-field communication-equipped (NFC) phone into a terminal for contactless payments. iPhones have come with NFC technology for years now.

It sounds like this feature may not be too far away, either. According to Bloomberg’s source, Apple may begin rolling it out over the next few months, with the view to a final Spring release date.

Mashable has reached out to Apple for comment and we will update this article when we hear back.