By Sarah Clark
Adoption of Visa’s Tap to Phone softPOS solution has increased 200 per cent year-on-year globally and by 234 per cent in the ‘highest’ countries — the US, the UK and Brazil — Visa reports. There are now “millions of sellers of all sizes” using the technology, Visa says, and nearly 30 per cent of them are new small businesses.
SoftPOS technology enables businesses to accept contactless payments on a standard NFC smartphone, with no additional hardware required.
As such, Visa adds, the technology “is helping to democratize access to commerce tools and empower microsellers and SMBs around the world to start accepting contactless payments by using their NFC-enabled smartphones.”
“Tap to Phone is a tech equalizer for businesses,” Visa’s global head of consumer products, Mark Nelsen says. “Walk into some of the world’s largest retailers or go to your local farmer’s market and they’re using this same technology to accept payments right on their phone.
“People love to tap, so we’re continuing to expand our tap capabilities to create the best payments experiences for people and businesses.”
