LONDON, UK, 8th August 2023 -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that Tap to Pay on iPhone is now available for Zettle by PayPal customers. The new functionality, which is available to any Zettle by PayPal user in the UK with a compatible* iPhone, enables customers to use their iPhone to accept contactless payments in-person, without needing to purchase additional hardware.
With fewer consumers carrying cash, side hustlers and small businesses are more dependent than ever on the ability to accept card or mobile payments. With Tap to Pay on iPhone, sellers can start accepting payments within minutes of signing up or logging into the PayPal Zettle Go iOS app without the need to pay for or manage card readers. Using Tap to Pay on iPhone is easy, secure and private. At checkout, merchants will simply prompt the customer to hold their contactless payment near the merchant’s iPhone, and the payment will be securely completed using NFC technology.
“Contactless payments are becoming second nature to British consumers. In fact, more than 90% of Zettle by PayPal UK transactions are contactless,” said Vincent Belloc, Managing Director, PayPal UK. “At PayPal, we’re committed to finding ways in which our small business customers can accept contactless payments in a seamless and secure manner. With Tap to Pay on iPhone, we are providing millions of Zettle by PayPal users in the UK with access to a more efficient way to help drive sales and offer their customers greater choice and convenience.”
The announcement comes at a time when Brits are turning to side hustles to help boost their income, with two in five now working at least one side hustle and the average income earned through side hustles estimated to be £206 per week1. PayPal’s2 own research revealed this trend is particularly prevalent with Gen Z, with half (51%) working a second job or side hustle in search of extra income - helping them generate an extra £248 on average each month.
Tap to Pay on iPhone adds to the solutions already offered by Zettle by PayPal, and is a convenient solution for all sellers and small businesses, whether they are just starting out or are more established and looking for simple ways to sell on the go. Offering customers more choice in how they can pay, Tap to Pay on iPhone enables businesses to securely accept a range of contactless payments on the spot, including cards and popular digital wallets like Apple Pay, with no additional hardware or costs. In addition, users will get quick access to the money they make straight into their Zettle by PayPal account.
Tap to Pay on iPhone is also available in the U.S. to select Venmo business profile and PayPal Zettle customers, with plans to make it available to all Venmo business profile and PayPal Zettle customers in the U.S. soon.
*Tap to Pay on iPhone requires an iPhone XS or later device running the latest iOS version.
1 Finder commissioned Censuswide on 24/04/2023 to carry out a nationally representative survey of adults aged 18+.
2 PayPal’s Gen Z Financial Wellness Study survey of 1,000 UK Gen Z adults (aged 18 – 25) and 1,000 Millennials (aged 25-41) conducted by OnePoll in April 2022
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
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