Last week, Stripe quietly released their Tap to Pay app across Canada and many other countries. Tap to Pay is a feature that allows anyone to accept contactless payments from physical cards and digital wallets directly on compatible iPhones and Android devices, without any extra hardware.
Why use Tap to Pay? Tap to Pay enables users to reach more customers with fast and simple in-person payments, especially in mobile settings such as farmers markets and events. Tap to Pay also integrates with the rest of Stripe, so users can manage online and in-person payments from one place.
How does Tap to Pay integrate with ReInvestWealth?
By linking your Stripe account to ReInvestWealth, you can effortlessly manage all business transactions, including Tap to Pay payments, within the ReInvestWealth software, making bookkeeping and tax filing a breeze.
How to get started with Tap to Pay? To use Tap to Pay, users need to download the Stripe app (android and iOS) which enables them to accept payments in the physical world. Users can turn their phone into a payment terminal and start accepting contactless payments right away on their devices. See the official instructions for more details. Note that Stripe Tap to Pay on the mobile app is only supported on Android in Canada (iOS coming soon).
What are the benefits of Tap to Pay? Tap to Pay offers a number of benefits for users and customers, such as:
Security and privacy: Tap to Pay leverages the security and privacy features built into the devices, and does not store card numbers on devices or servers.
Convenience and flexibility: Tap to Pay allows users to accept payments anywhere, anytime, without carrying or setting up additional hardware.
Compatibility and scalability: Tap to Pay supports a wide range of contactless cards and mobile wallets, and can scale to all enabled devices in minutes.