Tap2App: smart phones into payment terminals to – no payment hardware or card readers

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xPressTap has launched its Tap2App merchant payment solution and pilot program.  With Tap2App, micro-retailers and small business owners can use their smartphones to accept card payments from consumers without the hassle of attaching a dongle or a portable card reader.

Tap2App merchant payment solution
Tap2App merchant payment solution

xPressTap’s patented technology turns any NFC-enabled smartphone or pad into a virtual card reader and can reduce merchant fees by as much as 25%.

The Tap2App technology has proprietary payment terminal functionality and chip card (EMV) reading capability that resides in the app, which eliminates the need for separate card readers or mobile Point-of-Sale (mPOS) devices.

For consumers, there is no need to download an app, the transaction is completed with a simple “tap” of their contactless payment card directly to the merchant’s mobile phone or mobile pad.

“Small businesses are the backbone of every economy, yet too many despise the cost and hassle of the payments process and the cumbersome hardware. So much so, that a large percentage remain ‘cash only’ and off the grid,” says Joe Lynam, CEO of xPressTap.

MPOS transactions are expected to account for roughly 20% of all global retail transactions made in 2021, and the total value of goods transacted through mPOS devices will exceed $2.3 trillion, according to Juniper Research. By eliminating the need for a separate mPOS device, xPressTap eliminates friction and makes it possible for anyone to accept money using only a smartphone.