Following this announcement, the incubation arm of BT Group Etc. and the financial technology platform Adyen will combine their solutions and expertise in order to provide business customers with the possibility to accept contactless payments with iPhone and the BT Tap to Pay application. Throughout this process, no additional hardware will be needed for the payment to be made.
BT Tap to Pay was made available through the use of the Apple App Store and it is expected to enable easy, secure, and efficient contactless transactions. When combined with the EE network, the products will give businesses and clients the opportunity to take payments from virtually any place around the world.
As the preference for contactless payments is growing in the industry, the BT Tap to Pay application is expected to make the process of paying more simple, accessible, and secure for customers. According to the official press release, the strategic deal will enable businesses that leverage the service to benefit from BT Group’s competitive 1.4% transaction rate, while also remaining compliant with the regulatory requirements and laws of the industry.
In addition, Tap to Pay on iPhone will enable small business customers to accept in-person contactless payments via physical debit and credit cards, Apple Pay, and other digital wallets. This is set to remove the need for card readers or any extra hardware.
The BT Tap to Pay application was developed in order to input and feedback for small businesses, sole traders, and mobile workers across the region of the UK to offer a reliable payment solution. The product focuses on the specific needs, preferences, and demands of small and medium-sized enterprises (SMEs) across the area, while also including built-in security and privacy features, a simplified refund process, as well as the ability to view payment history immediately.
The partnership will also combine EE’s connectivity with Adyen’s global expertise in mobile payments in order to make contactless transactions easier for clients. Apple’s Tap to Pay on iPhone technology was developed in order to use the built-in feature of the iPhone to keep business and customer information protected. At the same time, when a payment is processed, Apple does not store card numbers or transaction data on the device or any Apple server.
For more information about Adyen, please check out the company profile in The Paypers Company Database.
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