Forget swiping or inserting your chip. Consumers and small business owners alike are all about tapping—and Visa is working on new ways to make it easier to simply tap a credit or debit card to a smartphone to pay for everything from vegetables at the farmer's market to your share of your parents' Christmas gift. The company's contactless payment methods have become a core part of the company's business strategy going forward.
The company is taking notes from the growing popularity of what it calls "tap to phone," or when a consumer taps their card to a smartphone to pay for something. The payment method has grown 200% over the past year across the globe, and particularly among small business owners who say it democratizes access to needed technology, Visa said Monday.
