Global Payments and Visa launch merchant acceptance solution using smartphones in Singapore
Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, in partnership with Visa, a global leader in digital payments, has launched its Mobile Tap payment solution in Singapore. This collaboration aims to revolutionise the payment landscape by empowering sellers to facilitate payments seamlessly using their smartphones without the need for additional hardware investment.
Global Payments’ Mobile Tap solution, which utilises Visa’s Tap to Phone (TTP) technology, enables merchants with Android devices equipped with Near Field Communication (NFC) technology to accept contactless payments simply by downloading a dedicated app. This innovative approach eliminates the need for traditional point-of-sale (POS) terminals and can help facilitate a better consumer payment experience.
One of the key advantages of Mobile Tap is its ability to empower Small Medium Enterprises (SMEs) with the option of digital payments acceptance at a lower cost, paving the way for greater participation in the digital economy. Mobile Tap provides merchants and customers with increased convenience and flexibility in conducting transactions.
"Enabling Mobile Tap underscores Global Payments’ commitment to empowering merchants with software and technology that improves the commerce experience,” Justin Teo, Global Payments’ country head for Singapore, said. “We believe this solution will help our merchant customers drive sales conversion rates by increasing access to digital payment acceptance at a lower cost. With Mobile Tap, businesses can improve the experience for consumers, allowing them to make payments easily – without queuing up at checkout counters. We are shaping a future where digital payments are seamless and accessible to all, enabling merchants to better serve their customers.”
"We are thrilled to partner with Global Payments to introduce Visa's Tap to Phone payment technology in Singapore," Adeline Kim, Visa Country Manager for Singapore and Brunei, said. "This strategic collaboration aligns with our commitment to delivering innovative, convenient, and secure payment solutions and addressing SME concerns about the cost of digital payments acceptance. This innovative solution supports small businesses with digital payment capabilities at a lower cost and empowers retail outlets to rethink and transform the payment experience for consumers. Service staff at storefronts are able to support consumers to make payments easily without them queuing up at checkout counters, which translates to a better customer experience when Singaporeans pay and shop. In a recent YouGov survey commissioned by Visa, we found that over 60 percent of Singapore consumers expressed interest in using this solution at restaurants and cafes.1”
Global Payments’ new Mobile Tap solution using Visa’s Tap to Phone technology represents a leap forward in Singapore's journey towards greater financial inclusion, driving increased access to digital payments for merchants and consumers. The collaboration between Global Payments and Visa empowers businesses while advancing innovation in the payments industry.
1 The YouGov survey was conducted between 8th – 15th May 2023. Total sample size was 4067 respondents from Singapore.
About Global Payments Inc.
Global Payments Inc. (NYSE: GPN) is a leading payments technology company delivering innovative software and services to our customers globally. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world. Headquartered in Georgia with approximately 27,000 team members worldwide, Global Payments is a Fortune 500® company and a member of the S&P 500 with worldwide reach spanning over 170 countries throughout North America, Europe, Asia Pacific and Latin America. For more information, visit globalpayments.com and follow Global Payments on Twitter (@globalpayinc), LinkedIn and Facebook.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.sg