PayPal announced Thursday that it will soon support Apple’s Tap to Pay on iPhones. The company said in its Q3 2022 earnings report that both PayPal and Venmo will soon support this tech as a part of its offering. Merchants will be able to accept contactless card payments as well as payments via Apple Pay and other digital wallets (Google Pay).
Apple first announced Tap to Pay on iPhone in February to let merchants accept payments without any additional hardware. The company had Stripe as a launch partner with Jack Dorsey-led Square coming on board later in September. Now, with Venmo and PayPal joining the fray, merchants will have varied options of apps and services to choose from to accept payments.
“We’re very pleased to be working with Apple to enhance our offerings for our PayPal and Venmo merchants and consumers,” the company’s President and CEO Dan Schulman said in a statement.
Apart from Tap to Pay, PayPal is also working on a few other Apple-related programs. The San Jose-based fintech said it will add Apple Pay as a payment option for the fintech’s unbranded checkout flows on merchant platforms, including the PayPal Commerce Platform.
What’s more, it said that U.S.-based consumers will be able to load PayPal and Venmo network-branded credit cards to Apple Wallet and use them with Apple Pay next year.
Last month, Amazon added Venmo as a payment option for U.S.-based customers ahead of the Black Friday sales. In its Q3 2022 report, PayPal registered $6.85 billion in revenue with 11% year-on-year growth.
