Available in beta through Stripe Terminal in the US, Canada, the UK, New Zealand, Australia, and Singapore, Tap to Pay can be leveraged for the acceptance of these payments on both Android phones and tablets. With this solution, businesses can build and customise in-person checkout free of traditional point-of-sale hardware.
Stripe Tap to Pay’s launch context and capabilities
Based on the information provided in the announcement, Stripe found through a survey that 65% of businesses plan on prioritising a unified in-person and online checkout experience in 2023, whereas a Wunderman Thompson report highlights that 64% of shoppers have a preference for brands with both an online and in-store presence.
As it offers fast integrations and has no requirement for additional hardware, Tap to Pay helps businesses add or expand in-person payments with minimal cost and effort, providing an additional way for businesses running on Stripe to gain revenue.
Dong Min Kim, director of product management at Google Payments advised that as contactless payments are becoming more mainstream, it is ‘crucial’ for businesses of all sizes to be able to accept this type of payment. They added that as Android devices connect billions of people globally, by collaborating with Stripe to support Tap to Pay, businesses leveraging Android devices are offered an easy and cost-effective way for contactless payments’ acceptance.
The press release details that Tap to Pay is a feature of Stripe Terminal, which includes a set of APIs and SDKs that support in-person payments with developer interfaces, card readers, and logistics management.
Although some businesses choose the Terminal’s dedicated card readers, Tap to Pay on Android brings forth an alternative that helps businesses turn compatible devices into contactless mobile card readers. John Affaki, Terminal business lead at Stripe stated that the company’s launch of Tap to Pay on Android provides contactless payments hardware to millions of businesses around the world, enabling them to set up in-person checkout in a matter of minutes.
As it leverages the Terminal, Tap to Pay is fully integrated with Stripe, thus aiming to support businesses with managing both in-person and online payments in a single place. This lets them track customer transactions across channels, offer improved customer experience, and simplify reporting and revenue reconciliation. What is more, the Terminal and Tap to Pay solutions are fully compatible with Stripe Connect, which helps platform businesses to offer their users the capability of accepting in-person payments in an easy manner. Businesses running on platforms that can now accept these payments on Android devices include Squire, Fareharbor, Oddle, and GiveTap.
Based on the announcement information, Stripe’s Tap to Pay on Android supports transactions carried out with mobile payments such as Google Pay, together with Mastercard, Visa, and American Express debit and credit cards.