iOS 18 will let you use Apple Pay on any browser on any PC
Hey Payments Fanatic!
Apple has announced that Apple Pay support at checkout will soon be available across all desktop web browsers on all platforms, including Windows.
During the recent WWDC event, Apple introduced a new strategy to extend Apple Pay support beyond the Safari browser and the Mac OS ecosystem.
However, this approach offers a different user experience than what Apple Pay users are used to.
When Apple's JavaScript object detects a non-Safari browser, it presents the user with an elegantly designed QR code to complete the transaction.
The user can then scan the QR code with their iPhone and use the familiar Apple Pay process to finalize the purchase.
This workaround is necessary as many browsers do not natively support Apple Pay and likely won't in the future.
Although it is a practical solution, it isn't as seamless as the traditional Apple Pay experience and requires some consumer adaptation.
One limitation is that this feature only works on iOS 18 and later. While this won't be an issue in the long term, in the short term, there will be many unsupported devices.
iOS 18 is expected to be released in September.
You can test this functionality in any environment by visiting this Apple-created page.
Cheers,
INSIGHTS
Over the past 15 years, over 50 markets have developed Real-Time Payment systems to reduce digital payment friction.
Despite the advantages, merchant adoption varies:
PAYMENTS NEWS
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GOLDEN NUGGET
The "Open Ecosystem" — Open Banking, Open Finance, and Open Data transform Payments & Financial Services altogether👇
It's all about data — by enabling seamless data sharing, open banking, open finance, and open data supercharge financial services, stimulate global economic growth, foster innovation and increase competition in FinTech & Payments.
Open Banking vs Open Finance vs Open Data 👇
🔸Open Banking — it refers to the practice of allowing 3rd-party providers to access financial (mostly banking-related) data via APIs, with consumer consent, and offer banking services.
Key Features:
👉 Standardized APIs for data sharing and payment initiation
👉 Secure data sharing with robust consumer protection measures
👉 Participation from a wide range of financial institutions, including traditional banks and FinTech companies
🔸Open Finance — it extends the principles of Open Banking to a wider range of financial sectors, including insurance, investments, pensions, credit, cards, lending and more.
Key Features:
👉 Broad data sharing beyond banking data, covering insurance policies, pension plans, investment portfolios, and more
👉 Greater consumer control over their financial data
👉 Enhanced regulatory frameworks for secure data sharing and consumer protection
🔸Open Data — it allows unrestricted access; sharing and use of publicly available data by anyone, often provided by governments and large organizations impacting all industries, i.e. — health care, energy, commerce, real estate...
Key Features:
👉 Availability of data from various sources, including government and private entities
👉 Data provided in machine-readable formats for easy access and use
👉 Regulations to ensure data quality, privacy, and security, beyond financial
Leveraging in Payments:
🔸Open Banking — Use APIs to facilitate seamless, low-cost and faster payments via account-to-account payments, creating new payment solutions
🔸Open Finance — Integrate broader financial data to offer comprehensive financial management tools and improve payment services through better risk assessment and personalized financial products
🔸Open Data — Utilize diverse data sources to develop innovative payment products, enhance predictive models, and create new business opportunities in the payments industry
All and all, Open Banking, Open Finance, and Open Data are interconnected concepts that collectively aim to transform the financial sector by promoting innovation, competition, and transparency. They provide benefits for consumers, financial institutions, and the global economy by enabling better financial management & fostering new business opportunities
Don't sleep on the "Open" concept, data is everything 🚀
Source — The World Bank, Korea Institute of Finance, Korea Financial Telecommunications & Clearings Institute (KFTC).
And I highly recommend following my partner at Connecting the dots in payments... Arthur Bedel 💳 ♻️ for more great updates like this one👌
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