Mastercard launches Cloud Tap on Phone, a cloud point of sale acceptance technology

By Pavithra R

Mastercard has announced partnering with NMI, a leading payments enablement technology company, and Global Payments, a leading worldwide provider of payment technology and software solutions, to launch its first Cloud Tap on Phone pilot with Computer Engineering Group (CEG) a Calif.-based independent IT Services provider. 

The demand for faster, convenient, safe, and cleaner ways to pay has driven the transition to contactless, and touch-free experiences expected to be permanent for consumers and businesses even after the pandemic ends. Cloud Tap on Phone is one of Mastercard’s innovative next-generation acceptance products, with the software hosted on Microsoft’s Azure cloud platform.

Tap on Phone enables businesses of all sizes to deliver new and best-in-class contactless consumer experiences using their smartphone. The technology democratizes point-of-sale (POS) technology by turning an Android smartphone or tablet into an acceptance device, allowing businesses to accept contactless payments while minimizing the need to invest in hardware terminals or extra features.

With the introduction of Cloud Point of Sale, Mastercard is enhancing its Tap on Phone product and empowering ecosystem partners to develop their own cloud-based products with new tools and capabilities. Cloud POS moves critical parts of the acceptance software, i.e., the components that enable processing contactless transactions and certain security functions from the individual smartphone to the cloud, offering robust security, reducing development and maintenance costs, and creating scalable distribution channels by allowing immediate connectivity to partners. Cloud POS also becomes a new channel for Mastercard and its partners to bring value-added services to customers and businesses.

“We continue to see an accelerating shift to digital payments, with businesses of all sizes wanting to provide swift, secure, compelling point-of-sale experiences. Cloud POS enables us to make these experiences available to our partners with greater speed and efficiency. Our partners are the center of everything we do, and our trusted technology powers innovative experiences, choice, flexibility and certainty, creating the products they need. Mastercard’s Cloud Tap on Phone delivers on our promise of ground-breaking products and innovation,” said Milan Gauder, Global Head of Mastercard’s Acceptance Solutions Group. 

Mastercard is planning to make its pre-certified Cloud POS software development kits (SDKs) openly available in multiple cloud environments, encouraging FinTechs, acquirers, solution providers, and processors to innovate and co-create new cloud-first products. The firm’s pilot with CEG represents the first live deployment of Mastercard Cloud Tap on Phone. 

Mastercard has convened an ecosystem of partners to launch Cloud Tap on Phone.

• NMI operates as a key integration partner and distributor.
• Global Payments will provide POS acceptance technology.
• Continuing the company’s commitment to empowering small businesses, CEG, serviced by an ISO BNG Payments, becomes the first company to pilot Mastercard’s Cloud Tap on Phone.

Development of Cloud POS technology and the Cloud Tap on Phone product has been spearheaded by Mastercard Labs, Mastercard’s new product development arm. Mastercard has plans to further Cloud Tap on Phone pilots and commercial deployments in other markets in 2021. Currently, Mastercard’s Tap on Phone solution is in 16 markets across Latin America, North America, Europe, Asia Pacific, and Middle East & Africa.