TL;DR: Global Payments Inc., a prominent payment technology provider, has partnered with Visa to launch its Mobile Tap payment solution in Singapore. This innovative system enables sellers to accept contactless payments through their Android smartphones, eliminating the need for additional hardware investment. The collaboration aims to enhance the payment experience for both merchants and consumers, particularly benefiting Small and Medium Enterprises (SMEs) by providing cost-effective digital payment acceptance.
Global Payments, in collaboration with Visa, has introduced the Mobile Tap payment solution in Singapore. This initiative transforms the payment landscape, allowing sellers to effortlessly process payments using their smartphones, without the need for additional hardware. The technology leverages Visa’s Tap to Phone (TTP) technology, enabling Android devices with Near Field Communication (NFC) capabilities to accept contactless payments through a dedicated app.
Justin Teo, Global Payments’ country head for Singapore, emphasized, “We believe this solution will help our merchant customers drive sales conversion rates by increasing access to digital payment acceptance at a lower cost.”
A key feature of Mobile Tap is its potential to empower Small and Medium Enterprises (SMEs) by offering them the option to accept digital payments at a reduced cost. This advancement enhances convenience and flexibility for both merchants and customers during transactions. Adeline Kim, Visa Country Manager for Singapore and Brunei, highlighted the benefits, stating, “This innovative solution supports small businesses with digital payment capabilities at a lower cost and empowers retail outlets to rethink and transform the payment experience for consumers.”
The introduction of Global Payments’ Mobile Tap solution using Visa’s Tap to Phone technology represents a significant step towards greater financial inclusion in Singapore. This collaboration not only expands access to digital payments for merchants and consumers but also fosters innovation in the payments industry, marking a positive shift towards more accessible and efficient payment solutions.