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Tap-to-phone payments expected to gain traction, industry experts say

As the pandemic has popularized contactless payments, companies have begun looking to streamline the process and provide merchants with better technology, like turning a smartphone into a payments processing unit.

Mobile point-of-sale (mPOS) is the use of a mobile phone as a POS terminal for payment processing, as opposed to a traditional fixed terminal. Smartphones enabled with a near-field communication (NFC) chip can process transactions digitally with the tap of a card or phone.

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