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E-commerce platform Wix.com Ltd. looks to make it easier for its merchants with stores to accept physical payments with the debut of Tap to Pay on Android. The technology, coming from Stripe Inc., means merchants can accept contactless payments with a regular Android smart phone and no additional hardware.
Tap to Pay on Android has been available for a while with an early proponent in MagicCube Inc. Now, other providers like Stripe and Block Inc.’s Square have launched the service.
Merchants using Wix Payments for e-commerce, bookings, and events can use Tap to Pay on Android. Consumers can use credit and debit cards, Google Pay, and other digital wallets to make purchases with a tap. Wix added Tap to Pay on iPhone in March.
In related news, processor Adyen Inc. said it surpassed the 2-billion mark in issuing active network tokens, which convert card numbers into secure, non-sensitive digital replacements.
Because network tokens are less expensive to process than a card payment using the primary account number, they can be less costly for businesses while making it easier to get transaction approval and subsequent revenue. In a blog post, Adyen says that while some providers may charge a fee for management of issued tokens, these fees tend to be less than for processing PANs.
“It brings the two-fold benefit of increasing customer security, while increasing authorization rates, and therefore revenue for businesses,” Trevor Nies, Adyen global head of digital, says in a statement.
