PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that “Tap to Pay” on iPhone is now available to all Venmo business profile and PayPal Zettle users in the U.S., enabling them to make contactless card and digital wallet payments directly on their iPhones without requiring any additional costs or hardware.
This is the latest development in PayPal’s ongoing efforts to help small businesses sell more, grow their business, and manage their finances more efficiently.
Consumers are increasingly going cashless. More than 40 percent of Americans surveyed say they make none of their purchases with cash in a typical week, and that trend is expected to continue. As a result, accepting card and digital wallet payments in person is increasingly important for small businesses, but until recently, this required businesses to purchase and manage card readers. With Tap to Pay on iPhone, PayPal is helping millions of small businesses adapt to this shift in consumer behavior quickly, easily and more cost-effectively.
“As consumers increasingly embrace cashless payment options, small businesses are looking for affordable and flexible ways to offer their customers more payment options without being tied to a fixed location,” said Nitin Prabhu, VP, Small Business & Financial Services, PayPal. “With Tap to Pay on iPhone, millions of small businesses using Venmo and PayPal Zettle can now accept contactless card and digital wallet payments almost anywhere, right on their iPhones, which can expand their customer base and drive additional sales.”
With Tap to Pay on iPhone, Venmo Business Profile and PayPal, Zettle users in the US can get set up in minutes and securely accept contactless cards and digital wallets directly on their iPhones. You can also add taxes, accept tips, send receipts, and issue refunds. Additionally, funds from sales are quickly deposited into a business’s Venmo or PayPal Zettle account, helping to streamline operations and manage cash flow.
With Tap to Pay on iPhone, Venmo business profile users can significantly expand their customer base and accept payments from buyers, even if the buyer does not have a Venmo account. They can manage both their Venmo and card payment transactions directly in the Venmo app.
Venmo Business Profile and PayPal Zettle users like Saint Paul Spice Company and The Cheesecake Queen are already seeing success with Tap to Pay on iPhone.
“Activating Tap to Pay on iPhone with our Venmo business profile was really easy, and my customers really love it because it’s a quick and convenient way for them to pay,” said Elaine Bailey, founder of The Cheesecake Queen Based in Houston, Texas. “It is particularly useful when I have a lot of customers and need to process payments quickly. The solution has made it so quick and easy to accept payments when I sell at pop-ups and festivals, especially since many of my customers don’t. I don’t want to carry cash and prefer to use a digital wallet like Venmo or pay with cards. My customers are actually amazed at the “Tap to Pay on iPhone” option that Venmo offers, it is by far the smoothest and easiest transaction method I have ever used!”
Small business owners can get set up and accept contactless cards and digital wallets through their Venmo business profile or through PayPal Zettle in just a few simple steps.*
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