Apple is planning a new service that will allow small businesses to accept credit card payments directly on their iPhone without additional hardware, according to a report by Bloomberg.

Fast facts

  • Apple’s move has stoked speculation that the company may be paving the way for its devices to also allow crypto payments in the future.
  • Apple CEO Tim Cook said in an interview last November that the company was looking into cryptocurrencies, but would not be accepting crypto for its products in the near future.
  • In an earnings call on Thursday, Cook said Apple sees potential in the metaverse and is “investing accordingly.”