Today, Visa announced that Tap to Phone – a technology that turns a smartphone into a point-of-sale (POS) device – has experienced a 200% increase globally over the past year, supporting millions of sellers of all sizes worldwide. In the UK, Tap to Phone adoption is even higher, at a growth rate of 320%[1].
Tap to Phone expanded Visa’s tap capabilities simply by enabling users to accept payments by downloading an app. With more than one in five (22%)[2] Tap sellers being new small businesses in the UK, this technology is helping to democratise access to commerce tools. It empowers microsellers and SMBs not just in the UK but around the world to start accepting contactless payments by using their NFC-enabled smartphones.
“Tap to Phone is the ultimate leveller for businesses,” said Mandy Lamb, Managing Director UK & Ireland, Visa. “That’s especially the case for new businesses starting out, that can set up shop and instantly accept payments using a mobile device they already have in their pocket. With over 18.3 billion[3] contactless payments made in the UK in 2023 alone, it’s clear that consumers love to tap. We’re excited to be expanding our tap capabilities even further to create even better payment experiences for people and businesses in the years to come.”
Empowering SMBs and Microsellers in the UK
Whether it’s a gardens and events company expanding its offerings, a merchant popping up at a local market or a major retailer equipping its employees to assist customers on the floor, Tap to Phone helps businesses of all sizes easily accept payments. Small business owners say Tap to Phone gives them more confidence, makes their operation feel more sophisticated, and helps them grow their businesses.
Simon Young, Events Manager and Café Owner at Reuthe’s The Lost Gardens of Sevenoaks, a small countryside garden and events company in Kent, said, “Tap to Phone has been a game changer for us. It’s turned every staff member’s phone into a mobile checkout, meaning we can make sales anywhere – whether at a pop-up bar, along a woodland trail, or even while feeding the alpacas. Now, instead of redirecting customers to the café to buy feed while they’re petting alpacas across our 11-acre grounds, the Reuthe’s team can take payments instantly – creating a seamless experience and driving a 40% increase in sales last year.
“We expect overall business growth of 20% this year, and Tap to Phone will play a huge role in that. It’s transformed the customer experience too, cutting queue times and making purchases effortless. For any small business looking to boost sales and simplify payments, this technology is a no-brainer.”
The Future of Tap
This upward trend for Tap to Phone is expected to continue through the next year as more consumers and businesses may begin to recognise the benefits of tap technology and more use cases may hit the market.
Tap to Add Card, which allows you to tap your card to your phone to add to your digital wallet, instead of manually inputting card details, rolled out globally with Apple Pay in September 2024. It has picked up traction and enabled millions of tokens for more than 100 issuers, helping achieve higher authorisation rates and fraud reduction rates. Visa cardholders can add their Visa cards to Apple Wallet faster than ever, with no need to manually input card details.
Visa has also developed Tap to Confirm, which allows consumers to quickly and securely authenticate a high value transfer and Tap to Send and Request money, a feature that allows you to tap your physical card or card credential to a device wallet on a friend’s phone to securely send and receive money quickly and seamlessly. Tap to Send will be available later this year on Samsung Galaxy devices as “Tap to Transfer.”
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[1] VisaNet FY23-FY24
[2] VisaNet FY23-FY24
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
