Payment facilitators collaborating with the Worldpay's PayFac suite of services now have the capability to enable Tap to Pay on iPhone for their merchants. Two PayFac partners, Fullsteam and Autobooks, have initiated the implementation of this new service from Worldpay.
The feature allows merchants to accept contactless payments via iPhone, encompassing contactless credit and debit cards, Apple Pay, and various digital wallets—all without the requirement for additional hardware.
Surge in Digital Wallet Transactions by 2027
The 2024 Global Payments Report from Worldpay predicts a significant shift in transaction dynamics, with 86% of all point-of-sale transaction value anticipated to be conducted through digital wallets or credit and debit cards globally by 2027.
This forecast highlights a growing inclination among retailers, field service workers, salons, healthcare professionals, and other business operators to diversify their payment offerings to cater to the rising consumer demand for digital wallet and contactless payment options. Tap to Pay on iPhone emerges as a facilitative solution in meeting these consumer preferences.
“With iPhones being the most used device in the U.S. market, we are opening up greater opportunities for businesses to accept payments in an untethered, secure and seamless way,” said Matt Downs, EVP of Platforms at Worldpay. “Our PayFac partners can easily integrate with minimal development effort, meanwhile, by offering Tap to Pay on iPhone, they can also bypass the burden that can come with device certification.”
Meanwhile, BT Group's digital and startup incubation arm has teamed up with Adyen, to introduce a new solution for small businesses, as reported by Finance Magnates. The collaboration aims to enable small business customers to accept in-person contactless payments using Tap to Pay on iPhone. The BT Tap to Pay app, developed with input from SMEs, mobile workers, and sole traders across the UK, prioritizes their specific needs.
Enabling Tap to Pay on iPhone for Merchants
To implement Tap to Pay on iPhone, PayFac partners seeking to offer this feature can collaborate with Worldpay to integrate its triPOS mobile toolkit into their point-of-sale app, subsequently offering it through the Apple App Store. Once integrated, merchants utilizing the app gain the ability to accept a broad spectrum of contactless payments using an iPhone to conduct transactions.
Leveraging Apple's technology, Tap to Pay on iPhone utilizes the inherent features of the device to uphold the privacy and security of both merchant and customer data. Notably, Apple ensures that card numbers and transaction information are not stored on the device or on Apple servers during payment processing.
