xPressTap Launches Tap2App, Turns Smart Phones into Payment Terminals to Eliminate Payment Hardware and Card Readers
02-Aug-2017 9:11 AM
Tap2App Powers Small Merchants to Use Just Their Phone to Accept Payments; Their Consumers Simply Tap Their Payment Card or Mobile Wallet
SUNNYVALE, CA -- (Marketwired) -- Aug 01, 2017 -- xPressTap Inc., today announced the launch of its "Tap2App" merchant payment solution and pilot program. With Tap2App, micro-retailers and small business owners can use their smartphones to accept card payments from consumers without the hassle of attaching a dongle or a portable card reader. xPressTap's patented technology turns any NFC-enabled smartphone or pad into a virtual card reader and can reduce merchant fees by as much as 25 percent.
The revolutionary Tap2App technology has proprietary payment terminal functionality and chip card (EMV) reading capability that resides in the app, which eliminates the need for separate card readers or mobile Point-of-Sale (mPOS) devices. The company is on a mission to eliminate the cost and burden of hardware and dongles from the payments process for sellers of all shapes and sizes including micro-merchants such as contractors, food trucks, pop-up shops, charities, outdoor event hosts, self-employed service providers and a variety of on-the-go sellers.
For consumers, there is no need to download an app, the transaction is completed with a simple "tap" of their contactless payment card directly to the merchant's mobile phone or mobile pad.
"Small businesses are the backbone of every economy, yet too many despise the cost and hassle of the payments process and the cumbersome hardware. So much so, that a large percentage remain 'cash only' and off the grid," said Joe Lynam, CEO of xPressTap. "We look forward to enabling on-the-go sellers with a convenient, cashless capability using the power and simplicity of their own mobile phone."
Mobile point-of-sale transactions are expected to account for roughly 20 percent of all global retail transactions made in 2021, and the total value of goods transacted through mPOS devices will exceed $2.3 trillion, according to Juniper Research. By eliminating the need for a separate mPOS device, xPressTap eliminates friction and makes it possible for anyone to accept money using only a smartphone.
xPressTap has two patents and three International PCT patents pending for their hardware-less technology. The solution is compatible with all major contactless payment card brands including American Express Expresspay, China UnionPay QuickPass, Discover Zip, MasterCard PayPass and Visa payWave.
Tap2App is a turnkey peer-to-peer and merchant payment solution which supports the broad needs of the small business, complete with a payment gateway and full featured app that supports everything from product catalogs and payment acceptance to inventory tracking, invoicing and receipts. At the same time, the company offers a white label partner solution and developer SDKs and APIs.
Tap2App is launching initial pilots in Australia and New Zealand together with merchants, as well as alliance and distribution partners.
xPressTap Inc. provides contactless mobile payment solutions designed to simplify commerce at the point of sale and online. The company enables transactions on mobile devices with a simple "tap" of a contactless EMV card or a mobile wallet. xPressTap powers sellers, merchants and partners with contactless payments SDKs and APIs as well as with a turnkey commerce and payment solution complete with a merchant app, gateway, rapid merchant account set-up, inventory management, product library, digital receipts, analytics and performance reporting. xPressTap was founded in 2015, with offices in Sunnyvale, CA and Vancouver Canada. For more information, please visit www.xpresstap.com
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