The days of old-school point-of-sale systems could be on the way out, as Stripe announced that it was expanding its Tap to Pay functionality to Android devices.
Point-of-sale (POS) systems are an integral part of the physical store experience, facilitating payments, tracking inventory, and generally helping employees manage the everyday transactions associated with running a business.
However, with the advancements in contactless payment technology since the start of the pandemic, making and receiving payments on your smartphone is easier than ever, particularly with this news from Stripe.
Stripe Expands Tap to Pay to Android Devices
Stripe announced this week that it would be expanding its Tap to Pay functionality to Android devices in an effort to provide businesses and stores with a simple way to accept payments with nothing more than a smartphone.
“Stripe’s launch of Tap to Pay on Android puts contactless payments hardware into the pockets of millions of businesses around the world. Now any business can set up in-person checkout in minutes.” – John Affaki, Terminal business lead at Stripe
Tap to Pay will be available on Android devices in the US, Canada, the U.K., New Zealand, Australia and Singapore, with plans to expand in the coming month. The service will work with Google Pay, Mastercard, Visa and American Express.
All smartphones will be able to take advantage of this functionality through Stripe as long as your device is equipped with NFC technology, which the majority of modern iterations are.
The new functionality will make Stripe the first payment company to provide the Tap to Pay functionality on Android devices, having launched the service for Apple devices almost exactly one year ago.
Is Contactless Payment the Future?
Contactless payment has seen a dramatic rise in popularity since the start of the pandemic, with 20% of all in-person credit and debit card payments in the US being contactless. Subsequently, businesses need to be prepared for a future in which tapping your card or your phone on a payment terminal is the norm.
“Contactless payments are increasingly becoming the norm, therefore it’s crucial that businesses of all sizes are able to accept this form of payment.” – Dong Min Kim, director of product management for Google Payment
There are plenty of ways to prepare yourself for this eventuality, but getting set up with a POS system that supports contactless payment is clearly the best place to start. For help finding the right option for your business, take a look at our guide to the best POS systems for small business.
