Xero has launched Tap to Pay on iPhone, enabling businesses with a Stripe account to accept all forms of contactless payments.
Customer can now conveniently pay by just holding their iPhone or Apple Watch which contains their contactless credit or debit card, Apple Pay, or other digital wallet near the merchant’s iPhone.
The payment will be completed using Near Field Communication (NFC) technology.
Xero noted that Apple does not store card numbers or transaction information on Apple servers, ensuring data security for customers and merchants.
The launch comes as Xero’s survey shows that 41 per cent of consumers feel frustrated when their preferred payment option isn’t available.
Moreover, 28 per cent said they would shop elsewhere if a business doesn’t offer one of their preferred ways of payment.
The survey also showed that 86 per cent of Australian consumers use credit and debit cards.
“Managing payments plays a vital part of the cash flow equation, but small businesses continue to face challenges, including chasing late payments,” Bharathi Ramavarjula, SVP of Payments and Ecosystem at Xero, said.
“With so much on their plate already, keeping pace with shifting consumer expectations and market trends can feel overwhelming.”