This cuts out the existing separate hardware terminal that has until now been issued to merchants. This system requires only a phone with NFC (and of course the Mastercard merchant app).
Tap on Phone allows businesses to accept payments from any contactless card or mobile wallet right from their NFC-enabled device. With no extra hardware required, businesses can take advantage of this on-the-go solution to enable quick and convenient payment options. There is an option to send a receipt to customers through SMS or email.
See
Mastercard Tap on Phone | Contactless Phone Payments#
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NFC Mastercard Tap on Phone gives merchants a contactless way to accept payments. Pay with your phone to help micro & small businesses unlock new revenue opportunities.
