PayPal has announced that Tap to Pay on iPhone has launched for all Venmo business profiles and PayPal Zettle users in the US.
The payment method enables eligible firms to accept contactless card and digital wallet payments directly on iPhones with no additional cost or hardware.
With Tap to Pay on iPhone, Venmo business profile and PayPal Zettle users in the US can securely accept contactless cards and digital wallets directly on their iPhones. Users can also add taxes, accept tips, send receipts, and issue refunds.
In addition, funds from sales will settle quickly into a business’s Venmo or PayPal Zettle account, helping to streamline operations and manage cash flow.
Nitin Prabhu, VP, Small Business & Financial Services at PayPal, said: “As consumers increasingly turn to non-cash options to pay, small businesses are looking for affordable and flexible ways to offer their customers more payment choice without being tied down to a fixed location.
“With Tap to Pay on iPhone, millions of small businesses that use Venmo and PayPal Zettle can now start accepting contactless card and digital wallet payments nearly anywhere, directly on their iPhones, which can expand their customer base and drive incremental sales.”
According to PayPal, consumers are increasingly going cashless, with more than 40% of Americans surveyed revealing that none of their purchases are made with cash in a typical week, and that trend is expected to continue.
