Fintech Nexus Newsletter (June 11, 2024): Apple introduces Tap to Cash for iPhone to iPhone payments
Yesterday, Apple held its annual Worldwide Developers Conference (WWDC), during which it made several interesting announcements.
The most relevant to fintech is the new “Tap to Cash” feature that will be built into iOS18. As it sounds, this will allow users to send and receive Apple Cash simply by holding two iPhones together.
There were also more updates to Apple Wallet, including the ability to redeem rewards and manage installments through cards loaded into the wallet.
Of course, yesterday’s big announcement was about Apple Intelligence, a new suite of AI products that will be integrated directly into Siri.
Simon Taylor muses about what might happen if we combine Tap to Cash, Apple Intelligence and open banking.
Fintech is about to get more interesting…
Featured
> Tap to Cash lets you pay by touching iPhones
By Brian Heater
Apple’s WWDC 2024 keynote was packed, including a number of key new updates for iOS 18. One of the more interesting additions is Tap to Cash, which is more or less what it sounds like, letting users pay for things by tapping together a pair of iPhones.
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