The Tap to Phone technology to turn NFC smartphone into a payment terminal

IBA Group, VISA, and Priorbank JSC have launched the technology Tap to Phone, which turns a smartphone with an NFC module into a payment POS-terminal.

The solution is designed for small and medium companies, which no longer need to buy payment terminals and additional equipment to start accepting non-cash payments – all they need is to install a transaction processing application on NFC-enabled smartphone.

Companies can accept payments made with contactless bank cards and NFC-enabled smart devices, such as watches or rings.

IBA Group was responsible for the technical part of the solution.

Earlier, on June 4, IBA Group, VISA, and Ukrainian Oschadbank launched the Tap to Phone technology for the first time in the CIS region and South-Eastern Europe.Ukraine became one of the first countries in the world to use this technology.