Cell phones and tablets can be enabled to function as small machines and receive approximate payments in credit and debit functions, as well as cash or installments. The novelty, which uses the Tap on Phone concept, was developed by Elo, a specialist in payment technologies, and Fiserv is the first acquirer to integrate it.
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The solution is aimed at small and medium-sized businesses and works on devices with NFC technology. Once the app is installed on the tablet or mobile phone, the merchant can accept payments with Elo contactless cards and mobile phones with digital wallets (such as Google Pay and Apple Pay). Practical, the application works like a traditional payment capture machine using NFC approach technology.
According to Felipe Maffei, Director of Product and Innovation at Elo, Tap on Phone’s goal is to democratize digital payments and expand the proxy payment acceptance network in Brazil. “Small and medium-sized retailers will be able to turn their mobile devices into machines for receiving payments,” he explains.
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Sales receipts can be sent directly from the app by SMS or email. Other features include issuing a full sales report at the end of each day and canceling transactions.
With Tap on Phone, Elo cards enabled for lead payments can be used nationwide. The novelty is compatible with smartphones and tablets with Android from version 9.0, NFC support, 3G or 4G chip and Wi-Fi.
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