PayTabs and Visa bring tap-to-phone technology to Mena

PayTabs, MENA’s award-winning payment solution powerhouse, today announced the launch of its PayTabs Touch product, known worldwide as Tap to Phone, a contactless payment payment solution.

PayTabs, a powerhouse of MENA’s award-winning payment solutions, is launching the PayTabs Touch product, known worldwide as Tap to Phone, a contactless payment acceptance solution. (PRNewsfoto / PayTabs)

Tap-to-Phone touchscreen solutions allow millions of merchants to rely entirely on contactless software-based solutions to accept payments due to lifestyle changes, consumerism, and the rapid growth of e-tailing. It will be like. Tap to Phone aims to eliminate traditional expensive location-centric devices such as physical point-of-sale devices and terminals.

Today, digital payments are seeing more consumer usage trends than ever due to the nature of contactless payments and the convenience provided during blockades. Visa’s Recent StaySecure Consumer and SME Recovery Survey[1] It shows that digital payments in GCC and the wider MENA region will increase rapidly as consumers and merchants prefer hygienic and cashless payment methods. Smartphone penetration, which is projected to reach around 91% by 2025, will also be an important driver of digital payments and Tap to Phone.

With the launch of Tap to Phone, merchants will be able to accept payments using contactless cards or wallets via their smartphones. This device-independent solution only requires a smartphone with a Wi-Fi connection or mobile data. Cardholders can make payments by tapping a contactless Visa or other valid payment card or digital wallet on the seller’s smartphone.

For traditional sellers, the main advantage of Tap to Phone over traditional Point of Sale (POS) machines is that they do not require additional devices to run innovative apps, making the solution simpler and more cost effective. To make it expensive. Once downloaded, the solution will be available to business operators 24 hours a day. Registering a merchant is easy and takes three clicks. Additional benefits for merchants include the ability to view transaction and payment history. Customers can also receive an electronic receipt to hold the purchase tab.

For those who are interested in the core of how the solution works, the app on the merchant’s mobile phone facilitates the acceptance of contactless cards and digital wallets. Merchant smartphones must be equipped to exchange data wirelessly over an open network. Payment processing is done through the PayTabs Touch Terminal Management Server. Tap to Phone technology provides a set of protection mechanisms to meet the security requirements of all card schemes. The solution is also available as a white label solution for all banks and payment aggregators in the industry.

Abdulaziz Al Jouf, CEO and founder of PayTabs, commented on the launch, saying: I think this is not a replacement for traditional QR and POS, but an additional acceptance device targeting small businesses. A 24-hour Tap to Phone solution is essential for merchants and customers. , The era of pandemics. Empowering both merchants and customers is our Blue Ocean strategy in the future payments ecosystem. “

Madhur Mehra, Head of Visa Merchant Sales and MENA Acquisition, said: Merchants see digital payments as a necessary investment for business recovery. In the same survey, more than half of the surveys showed interest in low-cost acceptance solutions, highlighting their willingness and support for digital transformation. A region that helps consumers reinvent the physical shopping experience by accepting contactless payments in an easy and cost-effective way with “Tap to Phone.” Soon, smartphones will become a more common channel for accepting payments as well as payments. We are happy to be a partner. Use PayTabs to bring Tap to Phone to merchants to help businesses not only overcome the challenges posed by the pandemic, but also prosper. ”

PayTabs and Visa bring tap-to-phone technology to Mena

Source link PayTabs and Visa bring tap-to-phone technology to Mena

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