News | August 19, 2022

Partnership With Stone's Ton Reinforces Mastercard's Leadership In Mobile Contactless Payment Technology

Through partnerships, Mastercard seeks to boost the digitization of entrepreneurs from all over Brazil, democratizing access to payment technologies

Sao Paulo /PRNewswire/ - The way people experience the purchase journey has definitely changed, driving the implementation and use of contactless payment methods. As contactless technology continues to grow in over 90 million Mastercard card acceptance locations, Tap on Phone is rolling out around the world. Mastercard supports 131 Tap on Phone projects, 14 of which are in the Latin America and Caribbean region, in addition to many others under development. Locally, the partnership with Ton, Stone's solution aimed at micro-entrepreneurs and self-employed people, makes transactions with unlimited value possible.

TapTon, launched in August 2021, is a functionality that can be accessed within the Ton app, and allows merchants, especially small and medium-sized ones, to accept credit or debit transactions through proximity cards (NFC) and digital wallets. With Tap on Phone technology , businesses of any type or size can offer new contactless payment experiences using a device that everyone already has: the smartphone.

The novelty is that TapTon now uses a Mastercard certification that makes it possible to make purchases over R$200.00 (with a password request), which was not possible in the previous version of the solution, and to continue offering the highest standards of security to your customers. For the merchant, in addition to being able to accept payments by approximation in amounts above R$ 200 , the main advantages are the exemption from the fees for joining the traditional machine and the possibility of starting selling at the same moment the user accesses the app, without having to wait for the arrival of a sales terminal and the activation of the flags. In addition, the technology offers the possibility to digitize smaller businesses that only accept cash payment.

This technology grows in a scenario where the changes adopted or driven by the pandemic are increasingly consolidated as a habit among Brazilian consumers. According to Mastercard's New Payments Index study, 86% of Brazilian respondents used at least one digital payment method in the past year. Of these, 56% used contactless payments.

"We have seen the advancement of different forms of payment, with approximation payments being one of the preferred modalities for offering practicality and convenience in a fast and safe way", says Estanislau Bassols , president of Mastercard Brasil. "For small and medium-sized entrepreneurs, this is an opportunity to increase the digitization and security of the business, reduce default, in addition to improving the end consumer experience", he concludes.

"Our culture revolves around listening to the customer, and that's what we do to evolve. We improve our pioneering technology. Our solution is even more complete to meet customers' needs, helping them sell more and take their business to the next. level", says Caio Fiuza , partner and COO of Stone, responsible for Ton.

"Stone was the first Brazilian company - and one of the first in the world - to launch this novelty. Now we are ready to scale the product, with all the quality and security that our customer deserves. TapTon is also a financial education tool, possibly the first of many entrepreneurs to accept cards and operate a digital account. We are contributing to the growing digitization of retail in the country", says Augusto Lins , president of Stone.

About Mastercard
Mastercard is a global payments technology company. Our mission is to connect and drive an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses reach their greatest potential. Our Decency Quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections in over 210 countries and territories, we are building a sustainable world that opens up Priceless possibilities for everyone.

Source: Mastercard

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