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Payments-technology provider PayEngine will enable its softPOS tap-to-pay service with ServiceTitan Inc., a software developer for contractors in the HVAC, plumbing, electrical, and other service sectors.
Santa Monica-based PayEngine says this means consumers will be able to pay their contractor invoices on the ServiceTitan platform by tapping a contactless card on their Android and iOS mobile devices without the need for an external card reader.
PayEngine provides two methods to enable softPOS. One is a companion app on a smart phone and the other is a software development kit to accept contactless payments directly within the developer’s app. SoftPOS transaction value is forecasted to have an 86.6% compounded annual growth rate between 2025 and 2030, according to eMarketer Inc. That compares to a 12.7% CAGR for the same period for mobile POS, which uses an external card reader.
Contractors in the field typically have had to key in card numbers when using a mobile phone or accept a check. SoftPOS eliminates having to key in credit and debit card numbers, which can reduce errors, security risks, and potentially garner better card-processing rates than a keyed transaction.
PayEngine says its tap-to-pay service functions as a middleware layer connecting software platforms to most payment processors. That means a company like Glendale, Calif.-based ServiceTitan can upgrade its payment experience without affecting existing processor deals, PayEngine says. ServiceTitan says it has more than 11,800 trade customers.
“We built PayEngine to be the bridge between legacy payment infrastructure and modern user experiences,” Spartak Buniatyan, PayEngine chief executive, says in a statement.
