Tapped payments for small businesses
Westpac to Offer Market-Leading Tap-on-Phone Software to Merchants
Westpac has announced that it will be rolling out new technology that will allow small businesses to accept payments from customers through their compatible Android mobile.
Westpac Tap on Phone leverages Airpay TAP technology from Australian payment technology provider Quest Payment Systems (Quest). It is being tested with some Westpac small business customers before 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 are constantly looking for ways to enable businesses to stay connected with their customers and get paid quickly, flexibly and securely,” said Chris de Bruin, Managing Director of Westpac Consumer & Business Banking.
“Westpac’s Tap on Phone technology is a game-changer for business owners who need a lighter, more portable alternative to traditional merchant hardware, allowing their compatible Android phone or tablet to turn into a payment device.
“Mobile is already the number one choice for making payments and this solution means that small business owners will soon be able to accept payments on their phone when a purchase is made or a job is completed, making it easier and faster to the conduct of business.
“There is exciting potential for adoption here in Australia as businesses seek more convenient and connected payment solutions,” said de Bruin.
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 payments from customers through cards, mobile wallets, and wearable devices when a card or device is held over the Near Field Communication (NFC) reader of the phone or tablet. Customers are required to enter a PIN for payments over $200 for added security.
“We are extremely excited to work with our long-time partner Westpac to bring this innovative solution to market to facilitate more flexible and convenient payment experiences for businesses and consumers,” said Jan Mason, CEO of Quest.
“Airpay TAP enables small businesses to accept card payments, without the need for a physical payment terminal or additional hardware, dramatically improving business profitability.
“The pandemic has changed the way people pay and do business – with contactless and digital payments being a clear preference. Quest’s software payment solutions are at the forefront of this transition,” said Ms. Mason.
Westpac’s Tap on Phone leverages an existing suite of tools and technologies to make payments easier for businesses, including its upgraded EFTPOS Now fleet of smart terminals that is being rolled out to customers.
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