Mastercard, Dah Sing Bank, BBPOS launch mobile payment app for SMEs

Tap on Phone allows merchants to accept contactless card payments.

Mastercard has teamed up with Dah Sing Bank and mobile point-of-sale firm BBPOS for Tap on Phone, an app allowing Hong Kong SMEs to accept card payments via mobile, according to a news release.

Using any Near Field Communication (NFC)-enabled Android phone, the app will enable SMEs to accept payments from credit, debit and prepaid cards as well as mobile wallets and smartphones.

With BBPOS in charge of development and Dah Sing Bank as the acquiring bank for payments processing, Tap on Phone supports SMEs’ efforts to go paperless with electronic customer receipts. SMEs can also tap onto other business solutions such as invoicing, inventory management and analytics reporting.

Mastercard is also launching its sonic branding in Hong Kong to complement the new payment acceptance method.