Apple is working on a new payment option that would allow consumers to pay for items using their smartwatch, a move that would make the company the first to allow consumers pay with their Apple Watch.
According to an internal presentation obtained by the Wall Street Journal, Apple is in the process of developing a payment option for consumers that will enable them to use their Apple Watches as payment for things they purchase, like groceries and gas.
Apple Watch’s Payment API will allow users to buy groceries, gas and other items with a click of a button, allowing them to buy with their phone and pay with an Apple Watch instead of using the iPhone.
Apple has been working on this payment option since 2015, but the move is the first time that Apple has made it to the consumer market.
The company first launched a payment feature in 2018 for Apple Watch, allowing consumers to use the Watch as a payment method for things like groceries.
Apple recently announced that it is developing a new product called Apple Pay, which will allow consumers access to Apple Pay at a range of participating stores, including Target, Costco and many others.
Apple Pay will be available to users at select Apple stores on Sept. 16.
Apple Pay will allow Apple Watch users to pay with Apple Watch and PayPal accounts, as well as use Apple Pay on other platforms, including Android phones, mobile apps and e-commerce.
The payments feature will be similar to other popular credit and debit cards, such as Visa’s Visa Plus and Mastercard’s MasterCard Infinite, as long as the payment card is linked to a bank account.
Apple will also allow Apple Pay users to make a purchase with their Watches, but only at select retailers, including Walmart, Target, Kohl’s, BJ’s Wholesale Club, CVS, Best Buy, Home Depot, Walgreens and Target.
Apple plans to offer the new payment feature to consumers through an iOS app, but it is unclear if that will be the same app that is currently available to Apple Watch customers.
The Apple Watch app will be made available to consumers on the App Store, where they can make purchases.