According to a report from Bloomberg today an upcoming update to iOS could allow iPhones to receive mobile payments directly using NFC, without the need for an external reader, such as a SumUp or Square device. If true, this would allow small business owners to receive mobile payments from Apple Pay and Contactless cards directly through the iPhone, without purchasing or charging an additional accessory.

Apple purchased a company called Mobeewave back in 2020 for around $100 million which was a startup which was developing a technology solution for any smartphones to accept payments using NFC. Mobeewave would require users to download their app, input the amount to charge the customer and then tap the card or phone on the back.

Apple could add this feature into iOS 16 later this year or part of an update to iOS 15 in the coming months.