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Nexi, Stripe and Adyen launch Apple's Tap to Pay service in Italy

Nexi, Stripe and Adyen launch Apple's Tap to Pay service in Italy

Payments companies Nexi, Stripe and Adyen have begun offering a way for businesses in Italy to accept payments from customers using Apple's iPhones, they announced Wednesday.

Apple's Tap to Pay service uses a wireless technology known as near-field communication (NFC), which allows data to be exchanged between devices over a short distance.

Nexi, the largest payments group in Europe by volume of transactions processed, already offers store owners the opportunity to use their phones to process payments via the NexiSoftPOS app.

However, until now, this can only be used on Android mobile phones and not on Apple's iOS devices.

Using a smartphone to process payments is especially beneficial for small businesses, as they can avoid the cost of specialized hardware.

Dutch company Adyen, which mainly provides e-commerce services to large businesses but is also expanding its offerings to traditional retail, also announced that it will offer a Tap to Pay service. Milan-based luxury brand Prada will offer the service in its stores, starting in the Italian fashion capital.

Stripe, which competes with Adyen in providing payment services to businesses, said it would acquire Apple's service.

“Tap to Pay on iPhone means Italian businesses can now accept contactless payments using a device that many of us already carry in our pockets,” said Ruhi Dang, Stripe's product manager for EMEA. (Reporting by Valentina Za; Editing by Keith Weir)