Recently, Visa introduced its technology – Tap to Phone, which turns devices running the Android operating system into a non-contact, or NFC payment, terminal. Technology is already available across Europe, and people in the Middle East, Africa or the Americas will receive it by 2021.

A large portion of consumers believe that this technology will help millions of small businesses access fast access to the digital economy. As you know, with the spread of COVID-19, the demand for digital payments is growing faster than ever before. Moreover, digital and even more so, contactless payment methods have become a necessity.

In this regard, we also have a product in Georgia called “Terminalization”, which belongs to the Bank of Georgia. This technological solution turns a smartphone running the Android operating system into a payment terminal. The latter helps small businesses to introduce digital payment methods. To use the product, you need at least a smartphone running Android 5.0 with NFC support. An innovative payment system is easy to use. You just need to download the app from the Google Play store under the name: Terminali.

Approaches like these help small businesses find cheap and convenient technological solutions. In a pandemic, using your own smartphone as a payment terminal is a useful solution for many businesses.