Software point-of-sale (SoftPoS) orchestration firm, Phos, has partnered with payment gateway, Thrive Payments, to deploy its Tap-to-Phone solution in the US.
The deal will enable Thrive’s merchant customers to accept card payments directly on any NFC-enabled smartphone or tablet, in-store or on the go. This means they can greatly, and rapidly, expand their number of payment acceptance points, without the need to invest in additional hardware.
Phos’ ‘Tap-to-Phone’ solution uses state-of-the-art technology for secure transactions through a mobile device. The user-friendly design allows for the quick, easy and contactless processing of payments, bringing added convenience to businesses and consumers alike.
A November 2020 Mastercard survey found that over half of American adults regularly use at least one form of contactless payment. This change in consumer behaviours is prompting merchants to review their payment processing capabilities in response. In bringing a Tap-to-Phone solution to market, Thrive Payments becomes one of the early adopters of the technology in the US.
“We have seen first-hand the growing demand for Tap-to-Pay solutions in recent years and Phos has firmly established itself as a leader in this space,” said Thrive Payments President and CEO, Theodore Keith, Jr. “With contactless card payments becoming more common in the US, we’re excited to see this timely partnership come to fruition, as we bring a robust and secure mobile card acceptance solution to our merchants.”
Phos currently has 19 certified acquirer connections, as the fintech continues to expand globally. It plans to increase this number exponentially to satisfy the needs of tier-one providers and requirements across international markets. Additional acquiring certifications are currently in progress and will be announced this year.
Its latest partnership with Thrive Payments comes amid growing market interest in SoftPoS and Tap-to-Pay technology, with consumer tech giant Apple now in the process of enabling third-party SoftPoS providers to deploy their technology on iPhone devices.