Contactless Payments Can Be SMB ‘Game Changer’

Gone are the days of customers fumbling in their back pockets for cash or cards.

“Innovations like tap on mobile and mobile wallets go a long way to simplify and ease the payment experience for the customer,” Julie Malikayil, senior manager, payments products at Discover^® Global Network, told PYMNTS, noting these payment innovations offer firms, particularly small and medium-sized businesses (SMBs), flexibility, cost-effectiveness and enhanced customer experiences.

However, according to Malikayil, it’s essential to first understand the distinctions between tap on mobile and mobile wallets.

“Tap on Mobile is the ability to accept payments via a mobile device without needing additional attachments or peripherals,” she said. This allows merchants to conduct transactions seamlessly from their smartphones or tablets. On the other hand, mobile wallets enable customers to make payments directly from their mobile devices, creating a quick and convenient way to complete…