iStore Pay. Picture: iStore
Apple and iStore are making a serious play for South Africa’s growing SME economy with the launch of iStore Pay, a business-focused payment solution that removes the need for traditional card machines.
The platform introduces Tap to Pay on iPhone locally for the first time, allowing businesses to accept contactless payments directly on an iPhone using the iStore Pay app. Customers can simply tap their bank card, smartphone, or smartwatch against the merchant’s device to complete a transaction securely via NFC technology.
Turning the iPhone into a payment terminal
For entrepreneurs, freelancers, pop-up retailers, and small business owners, the appeal is clear: no extra hardware, no complicated setup, and minimal upfront costs. Businesses can begin transacting in under 15 minutes using an iPhone XS or newer running iOS 18 or later.
iStore says transaction fees start from 2.5%, while the platform follows a pay-as-you-transact model instead of locking merchants into expensive monthly contracts. The company is also waiving daily payout fees until 31 July 2026 as part of its launch campaign.
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More than payments
Beyond simple transactions, the iStore Pay app positions itself as a lightweight business management hub. Merchants can track sales, monitor payouts, manage refunds, and access business insights from a single dashboard.
Security remains central to the offering. Apple says payment data and card numbers are never stored on the device or on Apple servers, reinforcing the privacy-first approach the company has increasingly leaned on across its ecosystem.
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