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RCBC Tap-to-Phone drives wider card acceptance for MSMEs

Technews

RCBC Tap-to-Phone drives wider card acceptance for MSMEs

RCBC is the first commercial bank in the Philippines to deploy a SoftPOS solution, providing Filipino MSMEs with an affordable way to accept digital payments

By Jonathan Castillo

Tap to Phone - PR 1920px x 1080px 3.jpg

RCBC, in partnership with Soft Space launch the RCBC Tap-to-Phone, a SoftPOS solution for Filipino MSMEs to start accepting digital payments.

SoftPOS (Software Point-of-Sale) transforms NFC-enabled mobile devices into payment acceptance terminals. With RCBC’s Tap-to-Phone, merchants will be able to accept Mastercard and Visa card payments-be it credit, debit, or prepaid—through their Android NFC smartphones. A QR code is generated as an electronic receipt.

“We believe in partnerships that drive progress and we remain committed to providing Filipino MSMEs with cost-effective and accessible digital payment solutions throughout the Philippines,” RCBC Credit Cards President and CEO Arniel Vincent B. Ong said.

RCBC Tap-to-Phone is powered by Fasstap, Soft Space’s flagship SoftPOS solution. Supporting all major mobile operating systems in the market as well as a wide range of domestic and international card schemes, this versatility has seen Fasstap establish use cases in more than 15 industries including airlines, financial services, logistics, public transportation, food and beverage (F&B) etc.

“Close to 99% of all businesses in the Philippines—over 1.2 million—are MSMEs, so we’re excited about the transformative impact our partnership with RCBC can have,” said Joel Tay, CEO of Soft Space. “By joining forces under SMBC’s broader investment umbrella, our organizations can leverage their shared strengths, demonstrating how aligned strategies and support can support medium and small businesses.”

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