Tietoevry Banking has launched Tap on Phone – now available for partners and clients across Europe. This innovative solution allows merchants to accept payments from any contactless card or mobile wallet directly from their Android device, such as their standard mobile phone.
Tietoevry Banking launching Tap on Phone
Payment acceptance can now be enabled without the need for traditional card payment terminals, just software download from an app store is all it takes to get going.
The Tap on Phone solution will allow merchants to go-to-market quickly, and additional services can be integrated seamlessly, allowing partners to stay ahead of the curve in a fast-evolving payments landscape.
“Tap to Mobile” systems work by turning a commercial off the shelf (COTS) mobile phone into a payment acceptance terminal. Market Research Futures predict2 the “Tap to Mobile” market will reach $76.3 billion by the end of 2025, representing average growth of more than 23% each year over the next four years.
Axxtrans, the latest partner to utilise Tietoevry Banking’s Tap on Phone solution will provide it to Electronic Cash Register (ECR) vendors and other Point of Sale (POS) partners.
“We are delighted to launch Tap on Phone to our partners in the Nordic markets initially, and then across wider Europe,” says Douglas Oest, Business Development Manager in Axxtrans.
“We have developed a strong partnership with Tietoevry Banking and will focus on delivering this innovative payment technology to integration partners across the payments eco-system in the years ahead
“We are happy to have Axxtrans onboard and look forward to providing other merchants across Europe with this innovative payment solution together with new and existing partners in the region,” continues Kevin Grönvall, Head of Card Acquiring in Tietoevry Banking.
“Tap on Phone is a product which fits with our ambition of launching scalable, innovative, sustainable, and secure solutions. We anticipate high demand from merchants of all sizes for Tap on Phone in 2023, a product which is anticipated to be globally worth around $76.3 billion by the end of 2025,” Grönvall adds.
Tietoevry Banking will launch the Tap on Phone solution in Europe with an initial set of partners in Q2 2023, underpinned by an ultra-high availability processing platform and 24/7/365 support as standard.
Download Tietoevry’s Tap on phone whitepaper: https://www.tietoevry.com/en/campaigns/2022/tap-on-phone-white-paper/
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