NFC TIMES Exclusive Insight - Visa is rolling out what it calls “Tap to Phone” technology to 15 global markets, as it seeks to enable millions of small and micro-merchants that now mainly take cash to also accept contactless EMV credit and debit cards and credentials on NFC devices.
The technology, which only uses Android smartphones and tablets as software point of sale, or SoftPOS, devices, is not only targeted at developing countries, where many small merchants, such as shop owners, restaurants and street vendors, can’t afford conventional POS terminals. Visa announced today that the recent launches for Tap to Phone include Belarus, Malaysia, Peru, Russia and South Africa, with plans for launches in Brazil, Italy, United Arab Emirates, the United Kingdom and elsewhere. The future markets include the U.S., which Visa said would happen next year. The payments network said it had piloted the technology over the past year.
The announcement comes a couple of months after news broke that Apple had acquired Montreal, Canada-based SoftPOS company Mobeewave for an estimated $100 million. Mobeewave’s technology will enable merchants to use Apple’s NFC-enabled iPhones as certified POS terminals.
