Apples “Tap to Pay” feature transforming iPhones into contactless credit card readers and payment processors might just be bullish for $SQ.

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The press release says it would be used with existing payment processors. People won't need to buy POS machines from $SQ again.

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This reduces friction for new users as they can just use their iPhones to power Square. $SQ has the best software offering IMO for small businesses + BNPL.... $SQ is also making a loss selling POS machines to merchants.

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