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Prophius and Mastercard launch Tap on Phone technology

Prophius and Mastercard have launched Tap on Phone technology to enable small businesses to accept contactless payments using NFC-enabled Android phones.

The solution turns Android smartphones into secure payment acceptance devices for contactless cards, mobile wallets and even smartwatches, with no additional equipment or installation costs. Small businesses will benefit from faster in-store checkout and can easily accept card payment on delivery.

The move is expected to boost acceptance of digital payments in small and micro businesses in Nigeria, Ghana, Kenya, Uganda and other key sub-Saharan African markets, while supporting consumer preference for digital payments. safe digital.

PayContactless operates Mastercard Tap on Phone, a digital payment technology developed for micro and small businesses and merchants who tend to operate in a cash economy due to the costs and complexity of obtaining point-of-sale devices traditional.

Phone tap functionality aligns with Mastercard’s commitment to providing more accessible payments without sacrificing security for convenience, and supports the technology company’s commitment to connect 50 million micro and small businesses to the digital economy by 2025.

Payment processing via smartphones

The traditional POS system involves a manual way of doing things – manually managing inventory and manually tracking transactions all day on the local server. While mobile POS systems store all customer data in the cloud, providing real-time records and updates.

Prophius and Mastercard launch Tap on Phone technology to enable small businesses to accept contactless payments using NFC-enabled Android phones.

With mobile POS, all devices are connected through cloud technology, automating many daily operations, saving time for employees and customers, and positively impacting the customer experience with your brand overall.

Mobile POS systems offer customers the ability to pay for their orders even at fairs, markets and other local places where trading is permitted. This gives more flexibility to the workers so that they can change locations and also promote the products in a wider area.

This advantage is related to small businesses and companies like airlines or railway companies where certain products or services must be included in the ticket. Thanks to the mobile POS system, customers can purchase the available items even during their trip through online ordering.

Go digital

Digitization and digital tools can benefit SMEs, as a 2019 Singapore Q1 economic survey shows: businesses that adopt digital tools increased their value by 25% and productivity by 16% on average.

The digitization of SMEs will not only improve their competitiveness, but it will also benefit society. As a main driver of regional economic growth and innovations, the digitization of SMEs also plays a crucial role in the development of an inclusive and sustainable economy. Recently, digitization solutions have greatly contributed to the UN Sustainable Development Goals and reduced wealth gaps, improved gender equality and responded to climate change, giving people access to the resources necessary for their survival. As the world continues to go digital, digitalization also has a lot to do with the development of governments and the impact of their policies on the digitalization trend.

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