BNP Paribas launches Tap to Pay solution in France

The French bank has announced the imminent arrival of its Tap to Pay solution in France. BNP Paribas should be offering this solution to merchants in the near future. Tap to Pay is an interesting alternative to traditional solutions, thanks in particular to its flexibility. This launch is in line with the bank's long-term commitment to innovation in payments, but also with an underlying trend.

FACTS

• On March 28, BNP Paribas announced the launch of Tap to Pay on iPhone in France. It will be offered to French retailers who are customers of the bank.

• To benefit from Tap to Pay, merchants will need to own an iPhone and download the AXEPTA BNP Paribas application. No other equipment is required.

• This innovative solution accepts :

• Credit and debit cards;

• Digital wallets such as Apple Pay.

• In terms of payment networks, BNP Paribas Tap to Pay accepts international schemes such as Visa and Mastercard, but also the French Cartes Bancaires (CB) network.

• The bank has indicated that it will provide further details shortly on the launch of Tap to Pay.

CHALLENGES

• Offering alternative solutions to retailers and the self-employed: Tap to Pay opens up new prospects for retailers. From a technical point of view, this solution offers great freedom. Freelancers and retailers can accept payments anywhere using their Apple smartphones, without the constraints associated with conventional Eftpos terminals.

• CB acceptance, a major challenge for merchants: Today, CB accounts for more than half of all daily payments on the French market. Even if the cards issued are increasingly co-badged, CB remains an often less costly solution for merchants. It is also important for the French network to be linked to this type of innovation, so that it can continue to compete with its rivals.

MARKET PERSPECTIVE

• BNP Paribas continues to transform payment methods. In October 2023, the bank announced the launch of Panto, a fintech aimed at simplifying payments on marketplaces. It is scheduled for launch in the first half of 2024.

• This is not the first Tap to Pay payment method to be accepted by CB. At the beginning of March, Viva.com announced the arrival of CB in its own solution. The acquirer thus opened the door to the 76 million cards issued by the French scheme.

• With regard to the deployment of Tap to Pay on the iPhone, BPCE was one of the first banks to announce the availability of Tap to Pay for its merchants.