Finance
Visa Tap to Phone Transforms Payment Acceptance for Sellers Worldwide
Now Available in More Than 15 Markets – United States coming soon in 2021; Tap to Phone Enables Businesses to Accept Contactless Payments on Any NFC-enabled Android Device with No Need for Additional Hardware.
As the world increasingly turns to digital payments amidst COVID-19, a simple mobile app can help millions of sellers worldwide quickly and securely accept contactless payments, while improving the checkout experience for customers. After piloting Visa Tap to Phone over the past year, Visa announced product availability in more than 15 markets with plans to expand to the United States and accelerate global product growth in the rest of the world via more than 35 new partners, including 听辫补谤迟苍别谤蝉.
Tap to Phone transforms current generation Android smartphones or tablets into contactless, or tap to pay, software-based point of sale (softPOS) terminals without additional hardware. As part of Visa鈥檚 commitment to聽, this cost-effective tool helps businesses quickly access the digital economy, prevent lost sales and improve cash flow by accepting contactless payments anywhere, anytime. Already, the number of sellers using Tap to Phone has grown by 200% over the past year and is now live in numerous countries across聽Europe,听Middle East,听Africa,听Asia Pacific听补苍诲听Latin America. Recent launches for Tap to Phone include聽Belarus,听Malaysia,听Peru,听Russia听补苍诲听South Africa, with upcoming launches planned in聽Brazil,听Italy,听United Arab Emirates,听United Kingdom聽and more.
Opportunity for Tap to Phone by the numbers:
- Two billion Android devices globally could transform to payment acceptance machines1.
- Tap to Phone holds particular promise for the 180 million micro and small merchants (MSM) around the world, where fewer than 10% of MSMs in many emerging markets currently accept digital payments2.
- In a survey conducted by聽Visa3, 63% of MSMs said they would likely implement Tap to Phone in their own businesses and more than 50% of consumers said they would likely use Tap to Phone if offered to them.
鈥淚t was just five years ago when聽Visa聽set out to enable virtually any IoT or mobile device to聽尘补办别听payments and now today, we are enabling many of those same devices to聽补肠肠别辫迟听payments in a very simple way with Visa Tap to Phone,鈥� said聽Mary Kay Bowman, global head of buyer and seller solutions,听Visa. 鈥淲ith billions of phones around the world at the ready, the opportunity that comes with lighting them up as payment acceptance devices is enormous.聽Visa Tap to Phone could be one of the most profound ways to reinvent the physical shopping experience.鈥�
Tapping to pay, or contactless payments, is growing rapidly in the COVID-19 era.聽Visa聽has seen tap to pay payments grow by 40% year-over-year4. In a recent聽Visa聽survey, nearly half of consumers (48%) said they would not shop at a store that offers only payment methods requiring contact with a cashier or shared machine like a card reader5, making it critical for businesses to expand their acceptance methods beyond cash.
Reinventing In-store Shopping, No Longer Constrained to the POS
According to聽Visa聽data6, casual dining, travel resources and grocery are currently the most typical category of use for softPOS solutions. However, Tap to Phone can elevate consumer experiences in additional ways including:
- Line busting:聽With six-foot social distancing mandates in effect, lines can become overwhelming. Tap to Phone helps employees to checkout customers quickly, anywhere around the store.
- Transit:聽In聽Japan听补苍诲听Belarus,听Visa聽was first to show how Tap to Phone can help eliminate the need for standalone ticket machines and additional validation hardware for conductors.
- Nomadic and service-based businesses: Make a sale from anywhere and get paid on the spot without having a hardline POS or adding payment accessories.
- Pay on delivery: Tap to Phone decreases friction when consumers pay for delivery, eliminating the need for cash and limiting touch during the transaction.
鈥淲e always look for ways to improve our customer experience, from personalized service to ease of payment. That鈥檚 where Tap to Phone comes in. Customers are always curious and impressed when we process their payment using nothing but our mobile phone. Not only has Tap to Phone been helpful for our in-store sales, but we also use it for our contactless product deliveries, helping customers stay at 天博赛事官网 and pay with their cards, which makes them gain confidence in our brand,鈥� said聽Karla Avila, founder of Extenclip in聽Costa Rica.
Building a Global Partner Network to Accelerate Product Availability
Also announced today, the Visa Ready for Tap to Phone program will help to fast track global product availability and could reduce the functional evaluation for solution providers from almost two months to a few hours. Visa Ready for Tap to Phone now enables technology companies to become Visa Ready certified, giving sellers the peace of mind that the technology solution they choose meets Visa鈥檚 high standards for security. Initial participants of Visa Ready for Tap to Phone include Cellfie, Center of Corporate Technologies M4Bank, Digitsecure, GeoPagos,听IBA Group, iCARD AD Bulgaria, MYPINPAD, PayCore, Phos, Quest, Rubean, SmartPesa, SoftPos, Soft Space and Techno.
Additional聽Visa聽approved technology, acquirer and government partners include Alfa Bank Kazakhstan, BPS Sberbank Belarus, CIMB, First Data, FT Technologies,听Halyk Bank, Hong Leong Bank, Kazpost, MagicCube, Maybank, Niubiz, Oschadbank,听Paymentsense, PostePay,听Priorbank, Promerica,听Russian Standard Bank, Sberbank Kazakhstan, Symbiotic and Worldline/SIX Payment Services.
If you are a solution provider or acquirer interested in learning more, please visit the Visa Ready聽聽for more details.
Tap to Phone: How It Works
Sellers download an app, supported by their acquirer, and after registering and selecting their participating bank, the sellers can start accepting contactless payments in just a few minutes. Tap to Phone builds on top of the security of an EMV chip transaction, in which each transaction contains a dynamic cryptogram that cannot be reused. To see more about how Tap to Phone works, a video demonstration is available聽.
础产辞耻迟听痴颈蝉补 Inc.
Visa Inc. is the world鈥檚 leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company鈥檚 relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere.鈥疉s the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit鈥�,听听补苍诲听.
1聽IHS Markit cited by聽NFC Forum;聽December 2019
2听鈥淪mall Merchants, Big Opportunity, The Forgotten Path to Financial Inclusion,鈥� Dalberg
3听鈥淯nderstanding The Future of International Tap to Phone Acceptance Study,鈥澛燰isa
4聽Visa Inc,听
5听鈥�,鈥澛燗ugust 2020
6聽Data provided by Visa鈥檚 Tap to Phone program participants from聽January 2019聽through聽September 2020.
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