Technology
Apple to turn iPhones into payment terminals in fintech push
Apple is rolling out a new feature that will allow businesses to accept credit card and digital payments with just a tap of an iPhone, bypassing hardware systems like Block Inc’s Square terminal.
The feature, due to launch later this year, will use near-field communication (NFC) technology for a variety of payments, including payments between iPhones, Apple said on Tuesday. The tech giant added that it doesn’t know what or who is buying it, stressing the service’s privacy features.
Fintech services Stripe and Shopify Point will be the first to offer click-to-pay functionality to business customers in the U.S. in spring 2022, the company said in a statement.
“Whether you’re a salesperson at an internet-first retailer or a solo entrepreneur, you’ll soon be able to accept contactless payments on the device in your pocket,” said Billy Alvarado, Stripe’s chief commercial officer: your iPhone.”
Apple has been beefing up its fintech offerings. It launched its own credit card at Goldman Sachs in 2019 and is reportedly working on a “buy now, pay later” service.
“Apple sees payments as an important separate business for the company, and they’re looking to capitalize on it,” said Shannon Cross, an analyst at Cross Research.
“Their foray into contactless payments shows the importance of payments as a business for companies.”
Shares of Block were down 1.2% in early trade on Thursday, while shares of Apple were little changed.
Complete News Source : Money Control
.jpg "SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad")
SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.
SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.
In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.
Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.
“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.
“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.
SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.
On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.
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