By KEN SWEET
AP Business Writer
NEW YORK (AP) — Apple is expanding the iPhone’s capabilities to accept contactless payments. It’s a move that will make it easier for merchants to conduct tap-to-pay transactions without having to buy additional hardware. It will also give Apple a competitive advantage in the growing world of contactless payments, in which the iPhone and Apple Pay continues to play a dominant role. Apple says the iPhone will be able to act as a payment terminal itself, without any additional hardware. The tap-to-pay feature will use the iPhone’s existing built-in NFC chip that was being used to transmit payments down to a payment terminal. It will be available to developers via an iOS software this spring.