Apple Inc. is planning a new service to enable small businesses to accept payments directly on the iPhones without any extra hardware, according to the reports.

The company has been working on the new feature since 2020, when the company paid about $100 million to acquire a Canadian startup, Mobeewave that developed technology for smartphones to accept payments with the tap of a credit card. The system uses the iPhones near field communications, or NFC, chip that is currently used for Apple Pay.

To accept payments on an iPhone, merchants need to use payment terminals that communicate with the phone via Bluetooth, such as Block Inc.’s Square, which dominates the market. The new feature will turn iPhone into a POS by enabling payments with the tap of a credit card or another iPhone onto the back of the device.

According to the reports, it is unclear that whether the payment acceptance option will be registered as part of Apple Pay, as the team working on the feature has been working within Apple’s payments division since being brought over from Mobeewave.

Apple may start rolling out the feature via a software update in the coming months. The company expects to release the first beta version of iOS 15.4 in the near future, which is likely to see a final release for consumers as early as possible.

Apple has been mounting the push in payments over the last few years, including the launch of Apple Card in the U.S. in 2019 and the roll out of Apple device instalment plans on the credit card later the year. Company offers the Apple Cash card for digital peer-to-peer payments and is also working on a service for Apple Pay that enables people to buy things and pay them off later through instalments.