Apple’s plan to dominate the POS payments 📲; Adyen’s strong numbers & next drivers of growth (shows where e-commerce might be getting in 2022) 🚀; Gateway to the entire metaverse ecosystem? 🤔

Good Morning FinTech, February 14

Good day Everyone,

And happy Monday! I hope you managed to recharge a bit over the weekend. If you still need a boost though, here’s a mix of 3 great FinTech stories you cannot miss today:

A glimpse into Apple’s plan to dominate the POS payments 📲

The news 📰 Payment giant Stripe will be the first provider to offer Tap to Pay on iPhone, Apple’s software point-of-sale (softPOS) solution that will allow merchants to accept contactless payments like Apple Pay with their iPhones, without the additional hardware needed. This was officially confirmed in Apple’s press release.

More to that 👉 The feature will hence be available for third-party payment providers and their software developers to integrate into their iOS apps later this year. Stripe will also add it to the Shopify Point of Sale app this spring.

A strong move 👀 This move from Apple was somewhat expected further to their Mobeewave acquisition back in 2020. I have also covered rumors that Apple was creating a softPOS offering late last month.

Back then, it was already obvious that this move could steal volume from incumbent mPOS players (i.e. PayPal’s iZettle, Square, SumUp, among others) and bring a new customer base to Apple. Yet, it was unclear whether Apple would keep the integration within its ecosystem or enable it for third-party use.

Right now, it looks like Apple has made the right move integrating with third-party payment providers. It’s potentially huge and matters for several reasons: