PayPal Holdings, Inc.. (NASDAQ: PYPL) today announced the rollout of Tap to Pay on Android for Venmo business profile users in the US, allowing them to accept contactless payments directly on their Android mobile devices without additional hardware or fees. initials.
With fewer consumers carrying cash, small businesses are more reliant than ever on the ability to accept card payments. Yet many small business owners are not set up to meet this new standard of consumer behavior. Nearly 80% of shoppers have used contactless payments to make a purchase, but until now small businesses have had to pay and manage card readers to meet this consumer expectation. All of that is about to change with the advent of Tap to Pay technology.
With Tap to Pay through Venmo, small businesses in the United States will be able to start accepting contactless cards and digital wallets in minutes, right on their mobile devices, with no upfront costs or additional hardware. Venmo business profile users will also be able to manage their Venmo payment and card transactions directly in the Venmo app, and have all their funds settled in their Venmo account, helping to streamline operations and manage cash flow.
“Tap to Pay is the latest step in democratizing in-person card payments, where users can start accepting card payments with no setup fees in minutes,” said Ed Hallett, product manager, micro business, PayPal. “We’re opening up access to this capability for the millions of businesses using Venmo and PayPal Zettle, helping them drive sales with frictionless payment options.”
Venmo business profile users such as Brothas Cookies, Dear Mama LA, GBarney Nails, and Magical Box Bakery are already using and benefiting from Tap to Pay.
“I use Venmo Business Profiles to accept Venmo payments when I sell my cookies at local farmers’ markets, but I wanted to be able to offer my customers more ways to pay,” said Heather Driscoll, founder of Magical Box Bakery. “I used to use a card reader to accept credit and debit cards, but having to remember to charge a separate device and having two separate dashboards to manage was a challenge. With Tap to Pay, I can accept credit and debit cards right on my phone, manage all my transactions in one place, and pay my funds right in the Venmo app.
Small business owners can sign up in a few simple steps and start accepting contactless cards and digital wallets through their Venmo business profile.
Tap to Pay on Android will be available to all Venmo business profile users in the coming months, but businesses can request early access here. Tap to Pay on Android is also now available to all PayPal Zettle users in the US. You can learn more and get started here.
Additionally, Tap to Pay on iPhone is now available to select Venmo Business Profiles and PayPal Zettle users, with plans to make it available soon to all Venmo Business Profiles and PayPal Zettle users in the US. . Venmo business profile users can request early access here.