Visa unveiled its Tap to Phone solution in January 2020 and the commerce in a box initiative is now helping to support small businesses in Atlanta, Chicago, Detroit, Los Angeles and Miami. As Visa describes, the "Tap to Phone technology turns sellers’ Android-based phones into point-of-sale acceptance devices, providing an on-ramp to the digital economy with the ease of downloading an app." The commerce in a box initiative provides offers, discounts and bundles to help small businesses run and protect their businesses in new ways.
In partnership with the minority-owned, mobile smartphone technology and solution provider ZmBEZI, the pilot program will be equipping 50 black-owned SMBs in Washington DC with ZmBIZI’s Z1 devices with Tap to Phone.
Key Themes Behind This Trend
- Mobile POS Devices
- The Tap to Phone technology turns Android-based phones into point-of-sale acceptance devices, offering wider access to digital payments.
- Small Business Support
- The commerce in a box initiative provides offers, discounts, and bundles to help small businesses run and protect their businesses in new ways.
- Innovative Payment Solutions
- Developing Tap to Phone payment solutions that can turn any phone into a payment device could disrupt the traditional payment system.
Where This Applies
- Mobile Technology
- Mobile tech companies could benefit from developing software and hardware that enable Tap to Phone payment solutions.
- Financial Services
- With Tap to Phone, financial service providers could enhance their existing products and services and extend their reach to more consumers.
- Retail
- Retailers stand to benefit from Tap to Phone solutions. With the ease of downloading an app, retailers can deploy a POS system without having to purchase or lease costly equipment.
