I guess for you folk who run businesses, this is a potential game-changer?
Looking into this now 
Looks like fees will be similar to the physical readers.
For me, no difference whatsoever. All our payments are done online or bank transfer anyway.
But I would imagine for those running shops or stalls (markets, fetes, etc.) it could very well be. Suddenly, there’s no cost for a terminal, and actually you now have a terminal that can be used with multiple providers.
Be interesting to see how it develops, and whether Android will follow.
I believe Android has had that functionality for a while
The phones as acting as terminals? Uh?
Yes, I think Android have had it since version 9, which would be 2018.
For instance: Get Started with Tap to Pay on Android | Square Support Centre - GB
Yes this makes sense because NFC isn’t locked down on android which is why you have Samsung pay and others.
Interesting! Not seen this before! Thanks for sharing
Stripe also supports it through most of Europe(well, EEA+UK) or if not, is in beta for the majority of the remaining markets
But for small teeny tiny merchants, I imagine there’s a lot of money saved in being able to just use your phone personally instead of another thing to buy to run an app on it
Also worth mentioning I think this is exceedingly useless for SMEs that aren’t single-person businesses. I don’t think that they’re going to log in with their Stripe/Square account on staff devices and there’s probably not money to buy an iPhone vs just renting a terminal for some money
However, if there’s something for the industry like a software as a service provider that can white-label an app with proper staff login w/ correct non-repudiation impl. then actually, yeah that could be super super transformative