Supported by Fintech-as-a-Service provider, Soft Space, LiveTap allows customers to simply tap their smartphone, wearable, or physical card on a merchant’s Android NFC-enabled mobile device to accept contactless card payments. The solution aims to drive down the ‘payment acceptance’ obstacles merchants face and will enable customers to have a seamless experience for both in-store and mobile payments.
Live Payments has harnessed the mobile card acceptance technology of its app-to-app payment partner, Soft Space, allowing its secure APIs to be integrated with Live Payments’ platforms.
Officials from Live Payments stated that the payments landscape is becoming increasingly fragmented. It’s now all about managing multiple payment methods, having simple and convenient options, and adapting to customers’ needs. Their LiveTap solution addresses this directly.
With no additional hardware or device required, LiveTap is an especially exciting option for SMBs and micro businesses that may not have the resources for full point-of-sale infrastructure. SMBs (employing fewer than 20 people) make up 97.5% of businesses in Australia, according to the company.
Representatives from Soft Space explained this solution takes full advantage of Australia’s relationship with contactless transactions. Live Payments has proven itself as an innovator in the market, serving not only large companies but small business merchants too, and their synergistic partnership will work to support them in this quest.
LiveTap is set to roll out to merchants later in 2022. The news comes as card payments continue to rise in Australia, with 87% of Australians in 2021 preferring to use cards including digital wallets, compared to only 7% who choose to pay with cash, as per the press release.
Live Payments is one of Australia’s payment service providers. Live Payments has over 15 years of experience servicing the Australian SME market, offering a full suite of business solutions and products aimed at helping small businesses grow.
Founded in 2012, Soft Space is provides SoftPOS and is headquartered in Kuala Lumpur, Malaysia. The company simplifies the complexity of financial infrastructure and creates value-added features to help their business growth. Soft Space has more than 50 financial partners across 23 global markets adopting its payment solutions.
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