Jeremy Allaire, CEO of Circle, announced in a statement on August 14 that USDC tap-to-pay may soon be possible on iPhones in response to Apple’s recent update.
Allaire said:
“The ability to pay with USDC on iPhones with a tap is coming soon. Wallet developers, start your engines.”
Meanwhile, Allaire clarified that Circle has no direct relationship or partnership with Apple or Apple Pay.
On August 14, Apple announced that it will now allow third-party applications to use Near Field Communication (NFC) technology for transactions. This update will allow alternative payment systems to compete with Apple Pay, the iPhone’s dominant payment option.
The announcement followed extensive regulatory pressure from sources including the European Union. Apple confirmed that the new feature will be available with the upcoming iOS 18.1 update. This version will allow developers to use contactless NFC transactions via the Secure Element (SE) in their apps, independent of Apple Pay and Apple Wallet.
How USDC Tap-to-Pay works
The USDC Tap-to-Pay application will leverage Apple’s newly available third-party NFC technology. This change will allow various wallet apps, including those for Web3 or crypto, to use NFC for transactions.
According to Allaire, iOS wallets that support USDC could simplify payments by allowing devices to exchange transaction information with a simple tap. For example, a point-of-sale (PoS) system could transmit the iPhone’s blockchain address or payment amount and ask the user to confirm the transaction with FaceID or another authentication method. The app would then process the payment over the blockchain.
Allaire said this development could facilitate direct USDC payments to merchants and enable transactions for other digital assets such as NFTs or stablecoins like EURC.
Therefore, he encouraged wallet developers to integrate the latest Apple iOS SDKs in preparation for the launch of USDC Tap-to-Pay.
Crypto community welcomes initiative
Members of the crypto community welcomed the initiative, saying it would usher in the next phase of crypto adoption.
Idan Levin, partner at venture capital firm Collider VC, said:
“Fewer clicks, less typing, meeting users where they are – each one of these will be another small step that adds up to a single moment – billions of people using public blockchains.”
