Payment facilitators who partner with Worldpay's PayFac suite of services now have the ability to enable Tap to Pay on iPhone for their merchants. Two of PayFac's partners, Fullsteam and Autobooks, have begun implementing this new Worldpay service.
This feature allows merchants to accept contactless payments via iPhone, including contactless credit and debit cards, Apple Pay, and various digital wallets – all without the need for additional hardware.
Significant increase in digital wallet transactions by 2027
Worldpay's 2024 Global Payments Report predicts a significant shift in transaction dynamics, with 86% of the total value of point-of-sale transactions expected to be conducted through digital wallets or credit and debit cards globally by 2027.
These forecasts highlight the growing tendency among retailers, field service workers, salons, healthcare professionals and other business operators to diversify their payment offerings to meet growing consumer demand for digital wallet and contactless payment options. The Tap to Pay iPhone app is emerging as a convenient solution to meet these consumer preferences.
“With iPhones being the most widely used device in the US market, we are opening up greater opportunities for businesses to accept payments in an unrestricted, secure and seamless way,” said Matt Downs, Executive Vice President of Platforms at Worldpay. “Our partners at PayFac can easily integrate with minimal development effort, and at the same time, by offering Tap to Pay on iPhone, they can also bypass the burden that can come with device certification.”
Worldpay launches click-to-pay offering for merchants – https://t.co/W93P0OTUwa See here —–>https://t.co/k0iE0PWh09
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Meanwhile, BT Group's digital incubation and startup arm has teamed up with Adyen, to offer a new solution for small businesses, Finance Magnates reported. The collaboration aims to enable small business customers to accept contactless payments in person using Tap to Pay on iPhone. Developed with input from SMEs, mobile workers and sole traders across the UK, the BT Tap to Pay app prioritizes their specific needs.
Enable tap to pay on iPhone for merchants
To implement Tap to Pay on iPhone, PayFac partners seeking to offer this feature can collaborate with Worldpay to integrate the triPOS mobile toolkit into their point-of-sale app, and then offer it through the Apple App Store. Once integrated, merchants using the app gain the ability to accept a wide range of contactless payments using an iPhone to transact.
Leveraging Apple technology, Tap to Pay on iPhone uses the device's inherent features to support the privacy and security of merchant and customer data. Notably, Apple ensures that card numbers and transaction information are not stored on the device or on Apple servers during payment processing.
This article was written by Tariq Sikdar at www.financemagnates.com.