Published:
Aug 24, 2024
Author:
Sarah Parsons Wolter
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Apple's recent decision to open its tap-to-pay technology to third-party developers is set to reshape what's possible with an iPhone! In the beta version of iOS 18.1, developers in key markets like the US and UK will gain access to the iPhone's NFC chip and Secure Element via APIs, a feature previously restricted to Apple Wallet and Apple Pay. This move, prompted by regulatory pressure from US and EU authorities, could spur a wave of innovation, with Circle’s CEO Jeremy Allaire tweeting, “Wallet devs, start your engines” on the back of the announcement from Apple.
In opening up the APIs, developers will likely be able to innovate in more ways than just payments. Apple’s press release suggests a range of ideas, including in-app contactless transactions, contactless in-store payments, NFC car keys, closed-loop transit payments, corporate access badges, student IDs, smart home keys, contactless hotel keys, merchant loyalty and rewards cards, event tickets, and even crypto and NFTs. Who knew that regulatory pressure could be as productive as a barista on their third espresso?
One particularly exciting frontier beyond payments lies in Decentralized Identity (DID) systems, where Apple’s Secure Element could play a pivotal role. Imagine a world where your iPhone securely manages your identity, allowing you to verify your age or the validity of your driver’s license with a simple tap without revealing unnecessary personal details like your address, actual date of birth, or social security number. Magic indeed… Unless you are a 17-year-old aspiring clubber trying to get into the KitKat club in Berlin!
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