Worldpay, a UK-based payment processing company, has introduced a pilot project for its new software only card payment mPOS in the UK that allows small merchants to accept payments using their mobile phone.
The mobile app, dubbed ‘My Business Mobile’, taps near field communication (NFC) technology which transforms compatible smartphones into a terminal that can accept contactless payments.
The app allows businesses to accept face-to-face contactless card transactions on their smartphone any time of up to £30. The new app does not require installation of any additional payments hardware. Using the new app, merchants can also accept payments via Apple Pay and Android Pay.
Worldpay said that the new app has been targeted for small businesses including coffee carts, barbers, festival vendors, pop-up shops and market traders to take swift, easy on-the-go payments.
Worldpay director of technology innovation Nick Telford-Reed said: “By taking hardware out of the equation, we are really bringing payments into the future. This revolutionary new technology app has the potential to enable micro-businesses to benefit from taking card payments without the need for dedicated hardware.
“We all carry a phone in our pocket, and now these sole traders and small businesses can use that same phone to take payments. They need never miss a sale.”
London-based coffee cart business Feijoa Tree Coffee is the first to use the app as part of a six-month long pilot which Worldpay will use to assess a possible larger scale launch at a later date.