Contractions - it is - it's

Hi,

"It's" is a contraction for "it is".
Can "it's" be also used as a contraction
for "it has" or "it was"?

For example: "It's been nice meeting you."
Here, does "it's" mean "it has".

Thank you very much.

[Casiopea]

Yes. That's correct.

It's been ~ It has been
It's eaten ~ It has eaten

Note, you'll know -'s represents "has" when the verb is a past participle.