Malaysian payment firm Soft Space has supported DBS’ launch of a tap-to-phone feature, making it the first Singapore bank to let merchants accept card payments directly on Android smartphones.
The feature is available through the DBS MAX app and allows businesses to accept credit and debit card payments without using a separate payment terminal.
Customers can complete a transaction by tapping a physical card or supported digital wallet on a merchant’s phone installed with the DBS MAX app.
The service supports NFC-based payment options such as Apple Pay, Google Wallet and Samsung Wallet.
Tesy Mathew, Group Head of Cash Product Management, Global Transaction Services at DBS, said,
“With ‘tap-to-phone’, we are thrilled to add a new collection mode to the DBS MAX app. Businesses can transact in a more efficient and cost-effective manner and scale confidently to capture new opportunities.
Retail customers benefit too, as they now have more avenues to use their preferred contactless payments across Singapore.”
The tap-to-phone capability adds to the existing payment options on DBS MAX, including QR code payments through DBS PayLah! and PayNow.
The feature is aimed at businesses that need more flexible payment acceptance, including those running pop-up stalls or operating without additional point-of-sale hardware. Merchants can activate the service through the DBS MAX app in three steps.
DBS said the service could also help merchants serve more customer segments, including overseas visitors who prefer to pay by card or may not have access to compatible local digital wallets.
Joel Tay, CEO of Soft Space, said,
“We are proud to support DBS in introducing tap-to-phone card acceptance to merchants in Singapore.
As the first Singapore bank to launch this capability, DBS is reinforcing the continued importance of card acceptance alongside QR payments, while giving merchants greater flexibility in serving their customers.”
DBS MAX was first introduced in 2018 as a cashless collections app that combines payment collection and automated bookkeeping.
Featured image: Edited by Fintech News Singapore, based on image by topntp26 via Magnific
