Tap to Pay (TTP): All You Need To Know About This New Technology!
Tap to Pay (TTP): All You Need To Know About This New Technology!
October 15, 2022
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All You Need To Know About This New Technology!
As we continue to become increasingly reliant on technology in our everyday lives, new and innovative ways of conducting transactions are being developed.
One such development is tap to pay (TTP), a mobile payment system that allows users to make payments with the touch of a button. So, what is TTP and how does it work? Keep reading to find out!
What is Tap to Pay (TTP)?
Tap-to-pay is a type of mobile payment system that allows users to make payments by touching their phone to a contactless reader. The reader, which is usually attached to a point-of-sale terminal, communicates with the user’s phone wirelessly and processes the payment.
TTP is similar to other mobile payment methods such as Apple Pay and Google Pay, but it doesn’t require the user to open an app or enter a PIN. Instead, the payment is processed automatically in the background.
How Does Tap to Pay Work?
Tap-to-pay works by using Near Field Communication (NFC) technology. NFC is a short-range wireless communication technology that allows two devices, such as a phone and a contactless reader, to exchange data.
When you tap your phone against a contactless reader, the NFC chip in your phone communicates with the reader and initiates payment. The payment is then processed through the user’s mobile wallet or bank account.
When Will Tap to Pay to Be Available?
Tap to Pay on iPhone is now available in the U.S and will be available in other countries later this year. Android users will be able to use Tap to Pay later this year.
Now, it’s easier than ever to make purchases using Apple Pay. All that’s needed are an iPhone and the right iOS app!
Tap-to pay with your card numbers from major networks like American Express, Discover, MasterCard or Visa is now possible through many US merchants who have already partnered up in preparation for this changeover – so get ready because everything just got a lot faster, a lot safer too since you don’t need any passwords anymore!
Introduce Lynkpay and Their Upcoming Tap-to-Pay Technology
Lynkpay is set to launch its tap-to-pay technology in the USA and UK regions in the second quarter of 2023. This will allow businesses to accept contactless payments with their iPhone and Android devices.
Tap-to-pay is a convenient and secure way to make payments, and it doesn’t require any special equipment or training. This makes it easy for both businesses and customers to use.
In addition to tap to pay, Lynkpay also offers other payment methods such as Google pay and Apple pay. These are convenient ways to pay for your ride, and they also help to keep your financial information safe.
TTP is a fast and convenient way to make payments, and it’s secure.
Benefits of Tap to Pay for the Taxi Sector in the UK?
The tap-to-pay system is beneficial for both the customer and the driver. For the customer, it is a fast and convenient way to make payments without having to carry cash or a card. The payment is also secure as it uses NFC technology to communicate with the reader.
For the driver, tap to pay can help to streamline the payment process. Customers can simply tap their phones to pay, so there’s no need for cash or card payments. This can help to reduce queues and waiting times, as payments can be made quickly and efficiently.
In addition, tap-to-pay is a secure way for businesses to accept payments. All transactions are encrypted and processed through the Secure Element, so businesses can be confident that their customer’s data is safe and secure.
Lynkpay’s tap-to-pay technology will help to streamline the payment process for businesses in the taxi sector.
What's Next for Tap to Pay?
The future of tap-to-pay is looking very promising. In the next few years, we can expect to see TTP become the standard way of conducting transactions. We can also expect to see NFC-enabled devices become more common, as manufacturers continue to integrate the technology into their products.
Tap-to-pay is revolutionising the way we make payments and it’s only going to get better. Stay tuned for more updates on this exciting new technology!
What do you think about this new technology? Do you think it’s something you would use? Let us know in the comments below!
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