Visa Tap to Phone to launch in 15 markets

Thursday 22 October 2020 09:43 CET | News

Visa has announced that Visa Tap to Phone will be available in 15 markets, with plans to expand to the US, after piloting the product.

Tap to Phone transforms current generation Android smartphones or tablets into contactless, or tap to pay, software-based point of sale terminals without additional hardware. As part of Visa’s intention to digitally-enable 50 million SMEs, this tool helps businesses access the digital economy, prevent revenue loss and boost cash flow by accepting contactless payments.

Sellers download the app, supported by their acquirer, and after registering and selecting their participating bank, the sellers can start accepting contactless payments in 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.

The number of sellers using Tap to Phone has grown by 200% over 2020 and the app is now live in numerous countries across Europe, Middle East, Africa, Asia Pacific and Latin America.

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Keywords: Visa, Visa Tap to Phone, product launch, mobile payment, SME, contactless payment, tap to pay, expansion
Categories: Payments & Commerce
Countries: United States
This article is part of category

Payments & Commerce