With the rise of contactless payments and the decline of cash usage, it has become crucial for businesses to adapt to this new consumer behaviour. Recognizing this need, PayPal has introduced Tap to Pay on Android for Venmo business profile users in the U.S., allowing them to accept contactless payments directly on their Android mobile devices without any additional hardware or upfront costs.

Tap to Pay is already available for all Android Users in the US

Traditionally, small businesses had to invest in and manage card readers to meet the expectations of their customers who increasingly prefer contactless payments. However, with Tap to Pay through Venmo, businesses can now start accepting contactless cards and digital wallets within minutes, using their existing mobile devices. This not only eliminates the need for additional hardware but also streamlines operations and cash flow management, as all funds settle into their Venmo accounts.

Ed Hallett, Head of Product, Microbusiness at PayPal, stated, “Tap to Pay is the last milestone in the democratization of in-person card payments, where users can start taking card payments with no setup cost in a matter of minutes.” This innovative technology opens up access to frictionless payment options for the millions of businesses using Venmo and PayPal Zettle, driving sales and enhancing customer convenience.

Several Venmo business profile users have already experienced the benefits of Tap to Pay. Heather Driscoll, founder of Magical Box Bakery, shared her positive experience, stating, “With Tap to Pay, I can accept credit and debit cards directly on my phone, manage all of my transactions in one place, and have my funds settle directly within the Venmo app.”

While Tap to Pay on Android will be available for all Venmo business profile users in the coming months, businesses can request early access. Additionally, Tap to Pay on Android is already available for all PayPal Zettle users in the U.S. Furthermore, Tap to Pay on iPhone is currently accessible to select Venmo business profile and PayPal Zettle users, with plans to expand availability to all users in the near future.

By introducing Tap to Pay, PayPal is empowering small businesses to thrive in an increasingly cashless society, providing them with a convenient, cost-effective, and streamlined payment solution. With this technology, businesses can effortlessly adapt to evolving consumer preferences, boost sales, and stay ahead in a rapidly changing market.

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(Via)

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Earlier today (28th September 2021), Xiaomi unveiled the NFC Mi Pay Straps that will be launching soon. The company revealed the new wearable band during the “Future Of Contactless Payments” event at the Global Fintech Festival.

As of right now, finer details regarding this product is currently unknown. Although, it is clear that it is a new contactless payment based product. The tech uses NFC and the related components are housed in the straps itself. While the Chinese tech giant has yet to reveal the launch date for this product, it has announced that it is working in collaboration with various finance based firms in India, including RuPay, RBL, and Zeta.

Today we announced our entry into the FUTURE OF CONTACTLESS PAYMENTS at the Global Fintech Festival.

Thrilled to announce that we will be launching the Xiaomi NFC Mi Pay straps soon.

Working with @RuPay_npci, RBL & Zeta to make this happen.

Stay tuned. pic.twitter.com/5yD2eywhPO

— Raghu Reddy (@RaghuReddy505) September 28, 2021

In other words, the NFC Mi Pay Straps is confirmed to arrive in India and would likely be a part of the Mi Credit or Mi Pay systems from Xiaomi. The news was shared by the brand’s Chief Business Officer, Raghu Reddy, on Twitter, with the tweet also teasing the upcoming straps’ design through an image poster. Unfortunately, we will have to wait for additional news from the company to know more about this product. So stay tuned, as we will be providing updates regarding this matter.

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The post Xiaomi to soon launch NFC Mi Pay Straps for contactless payments appeared first on Gizmochina.