Stripe Enables Tap to Pay on iPhone for UK Businesses

Stripe, the financial infrastructure platform, has expanded its in-person payment options in the UK by allowing businesses to accept Tap to Pay on iPhone.

Businesses utilizing Stripe, from farmers to beauticians, can now accept in-person payments securely with Apple’s Tap to Pay on iPhone technology. No additional hardware or payment terminal is required. Ruhi Dang, EMEA product manager at Stripe, said the technology means UK businesses can accept contactless payments with a device most people already own.

Seamless Transactions with Stripe Terminal and iPhone

Tap to Pay on iPhone provides flexibility by accepting all types of in-person contactless payments using an iPhone and the Stripe Terminal SDK. At checkout, the merchant prompts the customer to hold their contactless credit or debit card, iPhone or Apple Watch, or digital wallet near the merchant’s iPhone. The payment is securely completed using NFC technology, supported by PIN entry and accessibility options.

Apple’s Tap to Pay on iPhone technology uses the built-in features of the iPhone to keep the business and customer data private and secure. Apple does not store card numbers on the device or on Apple servers.

Growing Revenue with Flexible Payments

Monzo, the UK’s largest digital bank, is partnering with Stripe to allow business banking customers to accept contactless payments on their iPhone. Jordan Shwide, head of business banking at Monzo, said accepting payments on the iPhone simplifies the process, allowing businesses to focus more on what they love.

Payment platform Lopay offers this capability to its business customers, using Stripe’s financial infrastructure to accept payments, issue cards, and manage payouts. Ollie Mahoney, co-founder and CTO of Lopay, said the technology allows small businesses quick access to funds, significantly improving their cash flow.

Transforming Charitable Sector with Tap to Pay

The technology is also reshaping the charitable sector. UK-based social fundraising platform givestar uses Stripe to offer Tap to Pay on iPhone to hundreds of thousands of fundraisers across the UK. Alex Coleridge, givestar co-founder, said the technology has greatly impacted charitable fundraising, making it easier to raise money and attracting a younger audience.

Unified Commerce Solution

Stripe customers can now use Tap to Pay on iPhone to implement a unified commerce solution that consolidates systems and data into a single platform. This allows businesses to unify their reporting, understand customer behavior better, personalize experiences and recommendations, and reward loyalty. Ruhi Dang, EMEA product manager at Stripe, added that the solution offers an efficient and cost-effective unified commerce model.