Oh Tap to Pay, the possibility of using your phone to receive card payment without any additional hardware, considering that several credit card machines nowadays are just an phone without the phone app
On the last 5 years here in Brazil we had a few promises of this functionality by a few banks/fintech and some payment solution providers, usually restrict to android devices only.
On the last version of revolut was noticed by a colleague who asked me if was something on iOS 17 beta, but also appears on my iPhone with iOS 16.5.1, a preference on iOS settings about tap to pay
Basically asking to allow tap to pay on the Lock Screen with or without FaceID, basically just small text differences between iOS 16 and 17.
Revolut bringing tap to pay on business account could be a attractive function to get small business here, since we have real competition on PoS and is very common to have even 2 or 3 different cards machines (from different providers) to use whatever offers the best condition on the moment, having the possibility to use our phones directly would be interesting
But because I know my people, I’m already seeing that clickbait video of someone tapping a unsuspecting person
Hello @Eudes ,
Thank you for sharing this with us. I have activated the voting system for this one. Let’s see how many people would like to have this feature in revolut.
SG | Community Team
not something for me… I prefer to remain in control of my money and when it’s used
Ahh! Thanks for sharing your point @Graham_Lees.
SG | Community Team
Revolut has already added this in the UK, I received the email this morning. Not good for me as I’m on Android and already use the Revolut card reader.
The website is a bit light on information how this would work with physical cards when the contactless limit is reached. That obviously isn’t a problem if the phone with the banking app or Apple/Google pay is used, but for physical cards it is a regulatory requirement to go through chip and pin once £300 (cumulative) is reached or £100 in a single transaction. Most banks also request chip & pin for random transactions when limits are not reached to prevent fraud. I’m not sure contactless and pin meets the requirements. Does anyone know?
Waiting expansion for the rest of the world.
It’s a product for merchants. It replaces mPOS hardware. It enables the NFC hardware in phones to work with POS software to accept payments without additional hardware like a Zettle or Sumup reader.
I believe that this community would have more usage if have a link/tab for the community inside Revolut app.
Here on the deceased Credicard On app, it had potential but because was a big bank owned project to compete with fintech, but got tied probably because internal big bank bureaucracy and ended delivering just another lazy free credit card card and bellow basic digital account
But the community tab inside the app was nice!
Thank you so much for the idea @Eudes. We will surely look into this.
SG | Community Team
I would love to have this feature for private accounts as well.
Apple is in control of this and only onboards payment service providers. I can see this being an option for P2P payment schemes, but I don’t think you’ll see the full flexibility of merchant-like contacless payment acceptance for personal accounts anytime soon.
I just thought it’s nice if a friend can send you money by tapping his CC / Maestro card on your phone.
Also if you’re at a flea market for example that would be amazing.
But yeah, I can see that it’s mostly a buisiness use case and I can very well live without that feature, I just thought it would be nice to have.
I can see a couple of problems. Who’s going to pay the processing fees? Who’s going to be responsible for transaction monitoring, fraud and money laundering detection? What about abuse, when someone challenges a transaction and starts a chargeback procedure claiming what you’ve sold was rubbish?
You would need a payment processor or some sort of P2P service provider like Paypal as an intermediary.
It’s likely that some of those issues are reason to why it’s only available for business accounts. You probably have different legal liabilities as a business.
Wouldn’t money laundering detection be the same with regular bank transfers like SEPA or a friend paying with CC over a revolut payment link?
Who pays the processing fees when you top up with CC over a link or Google Pay? I’m not sure if it could be done th same way. If Revolut doesn’t want to pay the fees it could be the receiving party paying the fees.
Revolut does. And the user. Revolut charges for top-ups with certain kind of cards that are more expensive to process than others. It’s also the reason why competitors like Monzo aren’t offering the functionality anymore.
Revolut has certain limits in place that make settling payment links with card not very reliable. It might or might not be an option depending on certain factors. Not a good situation from a UX perspective.