What is Tap to Pay and how can it benefit your business?

Tap to Pay lets shoppers make contactless purchases by “tapping” their card, phone, or compatible smartwatch. 

This way, they don’t have to swipe their card or use cash. It’s an easier and faster way to pay, enhancing the overall shopping experience.   

The rise of Tap to Pay and cashless payments 

In recent years, contactless and cashless payments have seen a global surge in popularity: 

• The UK saw a 36% year-over-year increase in Tap to Pay card transactions in 2021.  

• Singapore had a 97% cashless payment adoption rate in 2021 — the highest in Southeast Asia. 

• Two-fifths of shoppers in the US embraced cashless transactions in 2022. 

• The contactless payment market in the US will generate $358 billion by 2025.

• Digital wallet users will exceed 5.2 billion worldwide in 2026.

The takeaway? Shoppers are increasingly looking for more flexible payment options, and businesses who adopt Tap to Pay technology can see massive growth. 

Adyen’s Tap to Pay is a go-to payments solution for leading businesses. Easy install. Secure transactions. Fast checkouts. Contact our team to learn more. 

Tap to Pay uses near-field communication (NFC) technology on compatible devices to accept contactless payments. 

By leveraging the NFC capabilities of devices you already use, you can eliminate the reliance on additional payment hardware. 

Plus, since Tap to Pay is software-based, you can create customized in-person payment options across locations — turning compatible devices like phones, tablets, and POS systems into a flexible terminal fleet. 

Is Tap to Pay safe?

Yes, Tap to Pay is a secure way to make payments and is less susceptible to fraudulent activities that can occur after swiping your card. 

With Adyen’s Tap to Pay for iPhone, payment transactions are encrypted and payment data isn’t stored locally on your phone. 

Encryption is a protective measure used to protect personal data from being stolen or compromised — making every transaction safer. 

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In 2024, businesses of all types are using Tap to Pay: 

• Platforms like Lightspeed, where POS integrations need to be reliable and scalable. 

• Large retailers like LUSH, where staff can go directly to customers who are ready to buy, allowing them to bust queues.

• Hospitality brands like Belmond, where effortless check-ins and checkouts can be a game-changer for guest satisfaction.

• Food and beverage SaaS companies, where dynamic payment options give customers more freedom. 

That said, here are the top three benefits of using Tap to Pay — regardless of your industry: 

#1: Drive revenue 

With Tap to Pay, you remove the dependence on traditional payments hardware and minimize their expenses. 

Not only does this reduce costs but Tap to Pay’s fast setup facilitates more seamless rollouts and scalability. 

#2: More flexible payment options 

Shoppers are increasingly seeking more flexible payment options. 

With Tap to Pay, you can transform any compatible device (e.g., smartphone) into a terminal — creating a more simplified and effortless checkout experience. 

It gives shoppers an easier and faster way to purchase and lets businesses cater to their customers. 

For example, say a customer is trying on shoes near a display area. Rather than queuing to buy them, they can tap their payment method on your smartphone and walk out the door. Simple. 

#3: Secure and fast checkouts 

Payment fraud can have a massive impact on efficiency and consumer trust — making security an important factor for brands. 

As mentioned earlier, Tap to Pay is a secure payment solution that speeds up checkouts and enhances the overall customer experience. 

And for businesses, a happy customer is key.

Whether you’re using a smartwatch or digital wallet, these are the most common methods for making a contactless payment:

#1: Debit and credit cards with NFC 

Many new debit and credit cards now have built-in NFC technology, allowing them to easily accept contactless payments. 

Once the shopper “taps” or hovers their card near the compatible device, the transaction goes through. 

#2: Digital and mobile wallets

Digital wallets, like Apple Pay or Google Pay, let customers make contactless and online payments — with their mobile phones. 

And according to our retail report, 49% of shoppers use digital wallets and other payment methods that don’t involve cash, cards, or bank payments. 

How does it work? Similar to using an NFC-integrated physical payment card, customers simply open their digital wallet on their phone, and “tap” or hover it to make a payment. 

#3: Smartwatches and other wearables 

Where digital wallets mean you don’t have to carry a physical payment card, smartwatches take convenience to another level. 

With this type of payment method, all customers need is a compatible smartwatch or wearable, and voila — they can easily “tap” or hover it to pay.

The speed and contactless nature of Tap to Pay is resonating with consumers and businesses alike. 

As its widespread adoption and acceptance continue to grow, it’s time to get on board and transform your devices into versatile payment terminals. 

Ready to enable Adyen’s Tap to Pay solution? Contact our team to learn more.