BNP Paribas launches iPhone touch payment feature for French companies
BNP Paribas has announced the launch of Tap to Pay on the iPhone, allowing merchants to accept a variety of payment methods simply through the iPhone and AXEPTA BNP Paribas app.。
French bank BNP Paribas has announced the upcoming launch of Tap to Pay functionality on iPhones, allowing merchants to accept various payment methods including physical debit cards, credit cards, Apple Pay, and other digital wallets through the iPhone and the AXEPTA BNP Paribas application.
New Payment Feature by BNP Paribas
This development eliminates the need for traditional card readers or additional hardware, simplifying the payment process for both businesses and customers. BNP Paribas plans to roll out the Tap to Pay feature on iPhones in the coming weeks, fully compatible with popular payment solutions in France.
It's worth noting that it will support Cartes Bancaires, the primary payment solution in the French market, accounting for over half of daily transactions. Furthermore, compatibility with international payment schemes such as Visa and Mastercard will enhance the availability of Tap to Pay on iPhones.
Enhancing Financial Transaction Efficiency
BNP Paribas and NatWest recently adopted CobaltFX's Dynamic Credit, an advanced solution aimed at improving credit allocation for foreign exchange (FX) transactions. Developed by United Fintech's CobaltFX, this technology simplifies processes, enhances market access, and controls. BNP Paribas and NatWest, long-term partners of CobaltFX, have significantly enhanced their collaboration by implementing CobaltFX's latest innovative technology, Dynamic Credit.
This move reflects a broader industry trend, where financial institutions increasingly recognize the importance of optimizing credit allocation for FX transactions. By adopting innovative digital solutions like Dynamic Credit, financial institutions aim to improve market stability and more effectively manage credit risk.
Previously, BNP Paribas expanded its collaboration with Worldline, leveraging Worldline's open banking-based account verification technology to combat IBAN fraud in SEPA Direct Debit (SDD) transactions. According to a report by French banks, this type of fraud accounts for over 60% of direct debit fraud.
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