Apple opens NFC access, Circle CEO welcomes: USDC contactless payments coming soon

With Apple's decision to open up its iPhone NFC payment chip to third-party developers, Jeremy Allaire, CEO of stablecoin issuer Circle, also announced that USDC will soon introduce contactless payment functionality on the iPhone, aiming to optimize consumers' payment experience.

Apple Opens NFC Chip, Opening Doors for Payment Providers

Apple's announcement yesterday stated that it will open its NFC contactless payment chip, Secure Element (SE), and API for third-party app developers in select regions.

Bloomberg pointed out that this long-awaited opening comes as the company faces pressure from multiple regulatory bodies, including the EU, over monopoly allegations:

This move will allow other developers to integrate various functions on Apple devices through their NFC chips, including consumer payments, public transportation tickets, identification cards, home and hotel keys, and more.

Of course, this will also introduce significant competition for payment providers, including Apple Pay services; therefore, Apple still requires developers to pay "associated fees" for using the NFC chip and to sign commercial agreements.

It is reported that the above services are currently only available to developers in countries such as Canada, Japan, the UK, and the US, excluding the EU.

Circle: USDC to Launch Contactless Payment Feature on iPhone

Quickly, the crypto sector has also sensed the opportunity for payment providers, with Circle CEO Jeremy Allaire tweeting that "the ability to click and pay with USDC on the iPhone is coming."

In subsequent tweets, Allaire explained that this is unrelated to Apple Pay and that other Web3 wallets will be able to use NFC chips for transactions:

If crypto wallets supporting USDC successfully develop this feature on Apple devices, they can enable users to receive transaction information through contactless means, streamlining the payment process.

He added, "At this point, there will no longer be a need to manually enter the receiving address or payment amount; users can simply confirm the payment through a password or Face ID after contactless interaction, enabling USDC transactions on the blockchain."

He emphasized that high-performance and low-fee blockchain networks will benefit, paving a broad path for Web3 payments:

Therefore, wallet developers should start using the latest iOS application development kits that support this feature and prepare for USDC's contactless payments.

He also mentioned that Apple's NFC chips can serve more purposes, including NFT-based certificates or tickets, and even stablecoins like EURC.

Yesterday, wallet provider MetaMask announced a test program for the world's first blockchain-based financial card in collaboration with Mastercard and payment provider Baanx in the UK and EU.

The first blockchain payment card MetaMask Card is now available, accepting USDC, USDT, and WETH!