On February 9, Apple announced on Tuesday that it would launch a new "tap to pay" function on the iPhone. This feature allows users to simply place their iPhone or apple watch close to the merchant's iPhone to pay for shopping without other new hardware. It is reported that this new contactless payment method is realized by using the NFC technology of iPhone. At present, it is limited to the U.S. market and supports Apple pay, visa, American Express, MasterCard and discover credit cards. At present, businesses that accept contactless payment on iPhone must use additional hardware such as square reader. There are many kinds of wireless connectors that can be connected to iPhone or square reader. Shares of block, which provides square reader devices, fell 2% in early trading on Tuesday. Apple said that third-party applications that support the "tap payment" function will be released later this year. Other payment companies and application developers can develop applications that support the "tap payment" function in the upcoming IOS and provide it to their users as a payment option. Stripe will be the first payment operator to provide users with "touch payment", and Shopify's sales terminal products will also support the "touch payment" function. Launching the "touch payment" function is Apple's latest move in the field of financial services. Apple currently operates non-contact payment service Apple pay, point-to-point payment service Apple pay cash, and also cooperates with Goldman Sachs to launch a credit card Apple card for iPhone applications. In the year to September last year, Apple's service revenue was $68.43 billion, of which Apple pay and apple card businesses were only a small part. (Xinhua News Agency)