Tap to mobile payment predictions
|Brittany Hainzinger in Mobile Tech Tuesday, January 18, 2022|
Vijay Sondhi, CEO at NMI discusses his tap to mobile payment predictions, what independent software vendors should focus on in 2022, how to maintain customers, and why digital payments will rise.
NMI has over 20 years of experience in the fintech software space, and NMI works with software developers to enable payments into existing tech stacks. Vijay Sondhi, CEO at NMI shares his 2022 predictions about software vendors, tap to mobile payments, how to maintain customers, and much more.
ISV and Tap to mobile payment predictions for 2022
In 2022, independent software vendors (ISVs) must continue to focus on their software developments and maintain customers by establishing expertise within payments. To do so, they will lean on an agnostic payments partner to build out new features, provide ample security measures, and supply devices and processors with the features that best support merchants’ needs and budgets.
We also expect to see more tap to mobile payments in the new year due to the rise of digital payments and benefits tap to mobile offers both merchants and the end consumer. This technology turns mobile devices into payment terminals with no dongle or additional hardware. Merchants simply download an app, and once downloaded, the mobile device will automatically receive its provisioning credentials so the merchant can accept contactless cards within minutes. This mobile payments solution requires no additional investment from merchants and is an easy way to expand payments offerings, which is why adoption will increase in 2022. To provide this experience for merchants and consumers, ISVs must look to a payments partner to provide this offering via mobile app.
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