Similar to Square and Apple’s Tap to Pay on iPhone, PayPal’s introduction of this feature aims to make contactless payments more accessible to businesses. By eliminating the need for additional hardware, the entry barrier and costs associated with adopting tap-to-pay systems are lowered. This empowers small businesses to accept their customers’ preferred payment methods, whether they are operating outdoors or at events like conventions. Consequently, this may reduce reliance on cash and traditional credit or debit cards. However, the widespread adoption and success of this technology among retailers remains to be seen.
