Visa, a payments technology company, announced the first live deployment of a PCI certified Tap to Phone card acceptance solution, in partnership with DigitSecure and HDFC Bank. DeliveryPlus is the first merchant to go live with HDFC Bank as acquirer.
This solution enables merchants to accept contactless card payments in seconds through an app on their NFC-enabled Android smartphones, and without having dedicated card acceptance devices.
Tap to Phone technology will lower the operational costs for financial institutions by migrating merchant onboarding, account provisioning and security to PCI certified payment acceptance cloud. This in turn will aid banks and fintechs to enable more merchants for card acceptance.
Cardholders will be able to tap their contactless cards and near-field communication-enabled smartphones on a merchant’s Android smartphone for fast, safe and secure transactions. With this deployment, India joins a list of more than 15 markets that now provide the Visa Tap to Phone technology for merchants to accept contactless card payments.
“In line with our commitment of digitizing 50 million small businesses, we’re delighted to do the first deployment of a PCI-certified Tap to Phone card acceptance solution in partnership with HDFC Bank and DigitSecure,” Shailesh Paul, head of Merchant Sales & Acquiring, India and South Asia, Visa, said.
Seshadri Kulkarni, CEO at DigitSecure, said: “With DigitSecure’s PCI Certified App-first SoftPos platform with ready global processing integrations, financial institutions can quickly enable small businesses for card acceptance at a small fraction of cost and time.”
A recent Visa study indicated that about 55 percent of consumers surveyed in India during the pandemic mentioned that they would likely use the Tap to Phone payment method due to its ease of use, saving of time and eliminating the need to carry cash. This reaffirms the need for and confidence in contactless payments.
Visa and DigitSecure have also entered into a partnership to empower small businesses and enterprise merchants. DigitSecure has integrated their Tap to Phone solution with Visa’s Cybersource platform to provide a single connection for omni-channel commerce solution across segments, use cases, channels and payment modes.
Visa will continue to work with clients, partners and fintechs in India to support SMBs (Small and Micro Businesses) to delivering better payment experiences for both merchants and consumers.