Washington, January 27: Apple will soon introduce a feature that will let small businesses use iPhones to accept payments without the need for extra hardware.

According to The Verge, the feature has been anticipated since Apple bought contactless payment startup Mobeewave in 2020, and the feature could be coming via a software update "in the coming months." Also Read | Apple iPhone 15 Pro to Come Without Physical SIM Card Slot.

Mobeewave previously worked with Samsung on similar NFC functionality, trialling a system called Samsung POS in the startup's home country of Canada in 2019 before launching it worldwide. Samsung POS enabled Samsung phones to accept payments directly from contactless cards and NFC payment services like Apple Pay, Samsung Pay, and Google Pay. Also Read | VSolidus Hits Cryptocurrency Industry With a Bang.

As per The Verge, it's unclear if Mobeewave's technology will be branded as part of the Apple Pay service, nor whether Apple will use its own payment network or launch with an existing partner. Mobeewave's staff has reportedly been working in Apple's payment division since the acquisition.

Apple is expected to release the first iOS 15.4 beta sometime soon, which may be when we get our first look at the contactless payment feature.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)