Worldpay Launches Tap-to-Pay Offering for Merchants
Payment facilitators (PayFacs) using Worldpay’s services can now offer their merchants tap-to-pay on iPhone.
The payments technology firm said in a Thursday (May 2) press release that two of its PayFac partners — Fullsteam and Autobooks — have already launched the service, which allows merchants to use an iPhone to securely accept contactless payments.
“Many businesses are mobile, and if we can utilize existing business tools like iPhone as an untethered POS acceptance device, we are making their lives easier,” Fullsteam CEO Michael Lawler said in a news release. “With tap-to-pay on iPhone, those businesses can capitalize on the powerful technology already in a device that’s likely in their pocket. Fullsteam’s integration with Worldpay has made it easier to offer this advanced experience to our clients and their customers.”
PayFac partners that want to offer tap-to-pay on iPhone can work with Worldpay to integrate its triPOS mobile toolkit into their point-of-sale app, according to the release. After integration, merchants using the app can accept all forms of contactless payments by using an iPhone to conduct the transaction.
Tap-to-pay uses the built-in features of the iPhone to keep the merchant and customer data private and secure, per the release.
“When a payment is processed, Apple doesn’t store card numbers or transaction information on the device or on Apple servers,” the release said.
The launch comes amid increased digital wallet use among consumers.
“Digital wallets can [provide] features intended to make the lives of users easier, such as the ability to store important documents like driver’s licenses, passports and event tickets.”
However, PYMNTS Intelligence’s “Tracking the Digital Payments Takeover: Can New Use Cases Drive Consumer Use of Digital Wallets?” found that the enthusiasm for using digital wallets as a place for sensitive documents changes depending on who is asked.
Although 51% of U.S. consumers, in general, expressed at least some interest in using digital wallet storage features, 78% of baby boomers and seniors said they had only a slight interest or no interest in storing documents on their devices.
The excitement about using digital wallets to safeguard documents grows when younger consumers weigh in, as 49% of Generation Z consumers and 51% of millennials said they are extremely interested, while 46% of bridge millennials and 26% of Generation X consumers also showed the same level of interest in using special digital wallet features.
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