Block stock jumps after unveiling Apple partnership for Tap to Pay on iPhone
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Block (NYSE:SQ) stock is climbing 7.0% in midday Thursday trading after the fintech payment company announced that it's working with Apple (NASDAQ:AAPL) to bring Tap to Pay on iPhone to Square sellers later this year.
Ahead of the full launch, Square allowing select sellers to start testing the new technology on Thursday under an Early Access Program. The announcement comes about a week after Apple (AAPL) started rolling out Tap to Pay on iPhone at some of its retail stores. At the time, it was expected that Apple would roll out the feature for small businesses soon.

Thursday's announcement means that Block's (SQ) Square will become more of a partner than a direct competitor with the tech giant.
Tap to Pay on iPhone will allow merchants using Square's POS system to accept contactless payments with no additional hardware and integrates with Square's broader ecosystem, the company said.
Apple (AAPL) stock is up 0.8%.
Previously (Feb. 8), Apple (AAPL) unveils Tap to Pay for contactless shopping with iPhones