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Introducing a brand new way for mobile and remote businesses to accept payments on the go! Tap Pay and the Tap Pay Token is a simple, portable and cost effective solution to accept payments anywhere in a variety of ways. Whether you are a 1-person solo operation or have a fleet of employees accepting mobile payments on a regular basis, we have the latest and greatest in mobile payment processing for you. The Tap Pay Token is a small but powerful piece of hardware that requires NO batteries, is shockproof and waterproof that allows merchants/employees to create payable invoices very quickly or allows customers to TAP or SNAP the Token and make payments instantly through their own mobile device.
When being used as a tool by the person wishing to accept the payment, using their mobile phone they can TAP or SCAN the Tap Pay Token and click on “Create Invoice Now”. Once they click on this option, they will be directed to a portal to where they can generate an invoice in a streamline manner and send it directly to the person they are wishing to bill via a text message or email. Once paid verification will be sent to both parties, verifying the payment has been made.
When wishing to accept payments directly from the party being invoiced, the payer can simply TAP or SCAN the Tap Pay Token and click “Pay Now”. Once selected they will be taken to a separate portal to where they can enter their personal information and make the payment using information already saved to their mobile device or enter in their card/banking information. Again, once the payment is made both parties will receive notifications that the payment has been processed.
Lastly through Tap Pay you can also now offer financing if you are in the home improvement space, are a contractor, or offer higher ticket items related to real-estate improvement. We offer up to $50,000 in financing for merchant customers and have a streamlined process to allow potential borrowers to go through underwriting quickly and efficiently. Allowing our merchants to close more deals and obtain more projects!
Below you can find examples of what the Tap Pay User Interface looks like as well as the merchant portal!
Lets talk processing fees first. Here’s one of the very cool and unique features about Tap Pay. Merchants have three options with regards to processing fees and how these are handled:
First, using Tap Pay you can choose to elect to have the customer making the payment cover the processing fee, completely taking the burden off of the merchant for the responsibility of the processing fee. This allows the merchants to have ZERO associated processing fees. This structure is great for some businesses, especially ones who offer services under $1,000 per transaction. As this small percentage adds up for the merchant over the course of the month, having a customer pay the processing fee as a “convenience fee” is not uncommon.
Second, as the party accepting the payment, a more traditional route can be taken and the processing fee can be covered by the merchant. This is what most merchants are used to and what is most commonly found. While this is an option we always try to save our merchants as much as possible, allowing them to maximize profits.
Third, and final, we are able to offer a hybrid system where the payment processing fee is shared by both the customer and the merchant. In this instance, each party pays a portion of the processing fee. This hybrid system is a NEW advancement in the world of payment processing and allows each party to cover the fee equally.
These are only a couple of the common options we have for the payment processing fee but we can customize processing fees on a case by case basis to custom fit specific merchant needs. On average, total processing fees will range between 2 and 4 percent. This fee can be implemented via one of the three options above very easily or a custom solution can be designed in some scenarios.
The actual Tap Pay System is actually very reasonably priced, and incentivizes users and company’s who have multiple Tokens in use. The system is based around a monthly subscription structure and based around the number of Tap Pay Tokens you have in circulation. These associated costs cover the cost of the hardware, the hosting, access to the payment processing portals, the user interface, along with all the involved upkeep and maintenance.
Below you can find a the monthly cost for Tap Pay Tokens based around the total number the merchant has in use:
– 1 Tap Pay Token = $29.99 per token per month per month
– 2 to 10 Tap Pay Tokens = $24.99 per token per month per month
– 11 to 49 Tap Pay Token = $19.95 per token per month per month
– 50 to 99 Tap Pay Tokens = $14.95 per token per month per month
There is also a one time activation fee/setup for Tap Pay, this cost accounts for your first month’s subscription as well:
– For the setup of a new account there is a ONE time fee of $149.99 for the first Tap Pay Token
– For each additional Tap Pay Token There is a $49.99 fee
Example: If you wanted 5 Tap Pay Tokens the initial setup for the new account would be $349.95 and the monthly subscription fee would be $124.95. This cost does NOT include any processing fees IF the merchant decides to not use a LOW/NO fee plan.
The ordering process is as streamlined as possible while also providing all the information that is necessary to determine whether the business wishing to become a merchant qualifies for our available offers. Unfortunately, not all applicants are accepted but we try to do our best to make sure all interested merchants get approved. Below are the necessary steps for becoming a merchant:
First: If interested in becoming a merchant, please click the “Click here to see if you qualify for Tap Pay” button found in multiple locations of this page. This will take you to a separate page that is a standard form we use to collect some basic information from our applicants. Once the standard form is filled out click “Submit”.
Second: After the initial qualification form is filled out and submitted, a member of our team will review it and respond back to you via email. Generally speaking, we will be able to approve or deny based upon the information provided in this form. If approved, a follow up formal application will be sent over that will need to be filled out which is then sent to our underwriting department. It is during this time we like to also schedule a call with the applicant to find out more about their specific needs and how we can best implement our products to fit their specific needs.
Third: Once and if approved, we will collect some media and branding assets from our new merchant to use when building their custom user interface. This is what the customer and merchants will see when they TAP or SCAN the Tap Pay Token. Some examples of the Tap Pay user interface and payment portals can be seen below.
In total, this process usually takes around 4 to 8 business days from start to when our newly onboarded merchants will receive their Tap Pay Token(s). There are a couple of variables that contribute to this lead time but as long as we get the information requested in a timely manner, we will try to have you up and processing as soon as possible!
Below are some commonly asked questions that we run into on a regular basis:
Q: Does the Tap Pay Token Require batteries and is the token waterproof?
A: There are NO batteries required for the Tap Pay Token. Yes the Token is completely waterproof and shockproof!
Q: Do all applicants get approved for the Tap Pay system?
A: Unfortunately, no, not all applicants are accepted. Generally speaking most applicants are approved, however there are some industries and businesses we are unable to take on as merchants.
Q: Is there a required minimum subscription term for Tap Pay merchants?
A: After the activation/setup fee and first month is paid for, there are no long term commitments and merchants are free to cancel at any time. Accounts will NOT be cancelled until all Tap Pay hardware is returned.
Q: Is there a limit to the number of Tap Pay Tokens I can use in my business?
A: NO! There is no limit here. For merchants requiring more than 100 Tap Pay Tokens, we can offer special pricing for you!
Q: Do you offer custom colors for Tap Pay Tokens?
A: YES! If you want to obtain 20 or more Tap Pay Tokens, we can offer custom colors. Please note, these units will be created as a custom order and may take longer to produce and ship
Q: What happens if a Tap Pay Token is lost or broken?
A: If a Tap Pay Token is lost, we will replace the lost or broken Tap Pay Token. The cost to replace the token will be $49.95. If the break is due to a defect that is caused by our manufacturing and production process, we will replace the Token at no cost to the merchant.
Q: What other features can be implemented into the Tap Pay Token?
A: Along with the normal functions of payment processing and financing, we can create custom buttons in the user interface to perform other actions like allowing customers to leave reviews, schedule appointments and any other function you can imagine.
We understand that not every business needs mobile payment processing. For potential merchants who need more traditional payment processing, we also have a solution for you! Tap Solutions can assist in setting up and managing your on site payment processing and point of sale systems as well. Best of all, we can still implement one of our three processing options. Choose from on of the following: