PrivatBank launches Tap to Pay contactless payments on iPhone for business

State-owned PrivatBank has announced the launch of Tap to Pay contactless payment technology on iPhones for business customers across Ukraine. This was reported by the bank's press service.

With the launch of Tap to Pay on iPhone, PrivatBank customers can accept contactless payments from debit and credit cards, Apple Pay and other digital wallets using only an iPhone and the Terminal iOS app without the need for a POS terminal or any additional equipment.

After a simple and straightforward registration procedure, all a merchant needs to do to start accepting payments is open the Terminal app on their iPhone, enter the purchase amount, and ask the customer to hold their contactless payment instrument to the merchant's iPhone to complete the payment.

The Terminal app for iPhone also allows you to register cash transactions, create and fiscalise receipts, and transfer information to tax authorities.

The service works on iPhone XS or later.

"We are confident that this service will be convenient for all types of businesses, from retail stores to hairdressers and food stalls, taxi drivers and market traders," commented Yevgeniy Zaigraev, PrivatBank's SME Board Member.