iPhones will be able to function as POS

Great news for small businesses. Apple is working to implement a contactless payment processing technology on the iPhone.

Basically, the phone becomes POS and can accept RFID payments by physical card or phone. The costs are lower than in the case of bank POS, and the initial setup procedure is much simpler. In addition, it is not necessary to purchase or rent external hardware.

The technology will also work for peer-to-peer payments through Apple Pay and will be available in the coming months, probably with the launch of iOS 15.4.