Payments ‘tap’ away for small business

Westpac

Westpac to bring market-leading ‘Tap-on-Phone’ software to merchants

Westpac has announced it will roll-out new technology which will enable small businesses to accept payments from customers via their compatible Android mobile.

Westpac Tap on Phone leverages Airpay TAP technology from Australian payment technology provider Quest Payment Systems (Quest). It is being trialled with select Westpac small business customers ahead of becoming more widely available in early 2023.

The technology allows businesses to download a Point-of-Sale app and start accepting secure, contactless payments from their compatible Android mobile phone or tablet, without the need for traditional merchant hardware.

“We’re always looking for ways to make it fast, flexible and secure for businesses to keep connected with their customers and get paid,” said Chris de Bruin, Westpac Chief Executive Consumer & Business Banking.

“Westpac’s Tap on Phone technology is a game changer for business owners who need a more lightweight and portable alternative to traditional merchant hardware, enabling their compatible Android phone or tablet to transform into a payment device.

“Mobile is already the number one choice for making payments and this solution means small business owners will soon be able to take payments on their phone when a purchase is made or job is complete, making it easier and faster to do business.

“There is exciting potential for uptake here in Australia as businesses seek more convenient and connected payment solutions,” Mr de Bruin said.

The Airpay TAP software is the first of its kind available in Australia and can be used with Android 9.0 and above. Small businesses can receive customer payments via cards, mobile wallets, and wearables when a card or device is held over the phone or tablet’s Near Field Communication (NFC) reader. Customers are required to enter a PIN for payments above $200 for added security.

“We’re incredibly excited to be working with our long-term partner Westpac to bring this innovative solution to the market to facilitate more flexible and convenient payment experiences for both businesses and consumers,” said Jan Mason, Quest Chief Executive Officer.

“Airpay TAP allows small businesses to accept card payments, without the need for a physical payment terminal or additional hardware, significantly improving cost-efficiency for businesses.

“The pandemic has changed the way people pay and do business – with contactless and digital payments a clear preference. Quest’s software-based payment solutions are at the forefront of this transition,” Ms Mason said.

Westpac’s Tap on Phone builds on an existing suite of tools and technologies to make payments easier for businesses, including its upgraded smart terminal EFTPOS Now fleet which is being rolled-out for customers.

Images and overlay vision available to download here.

/Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.