BNP Paribas is set to revolutionize the way merchants accept payments with the introduction of “Tap to Pay on iPhone.”
This innovative feature allows for the acceptance of multiple payment forms, such as physical debit and credit cards, Apple Pay, and other digital wallets, directly through an iPhone using the AXEPTA BNP Paribas app.
This advancement obviates the need for conventional card readers or any additional hardware, significantly simplifying transactions for both businesses and consumers.
Scheduled for rollout in the upcoming weeks, “Tap to Pay on iPhone” will align with France’s primary payment systems, ensuring a seamless integration for merchants.
A key aspect of this launch is its support for Cartes Bancaires, France’s leading payment mechanism accounting for more than half of the country’s daily transactions.
The feature’s compatibility with major international schemes like Visa and Mastercard further broadens its applicability, making it an attractive option for merchants aiming to streamline their payment processes.
In another strategic move, BNP Paribas, along with NatWest, has embraced CobaltFX’s Dynamic Credit, an advanced solution designed to refine credit allocation for foreign exchange transactions.
“BNP Paribas and NatWest have recently adopted CobaltFX’s Dynamic Credit, a state-of-the-art solution aimed at enhancing credit allocation for foreign exchange (FX) transactions.
“Developed by United Fintech’s CobaltFX, this technology simplifies processes and provides improved market access and control.
“Both BNP Paribas and NatWest, longstanding partners of CobaltFX, have significantly escalated their engagement by implementing Dynamic Credit, the latest innovation from CobaltFX.”
This adoption is indicative of a larger trend within the financial sector, highlighting a shift towards leveraging digital innovations like Dynamic Credit to better manage credit risk and enhance market stability.
Moreover, BNP Paribas has intensified its efforts against financial fraud by fortifying its alliance with Worldline against IBAN fraud in SEPA Direct Debits.
Through the use of Worldline’s cutting-edge account validation technology, the partnership aims “to reduce fraudulent use of IBANs during the SDD mandate signature process, which accounts for over 60% of fraud in direct debits according to a report by the Bank of France.”
This collaboration is part of BNP Paribas’ broader commitment to leveraging technology for securing financial transactions and enhancing operational efficiency.