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Saturday, July 20, 2024

Tap on Phone Payments with Hong Leong Bank

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Raiff Jamali
Raiff Jamalihttps://www.radical.my
Live, eat, sleep & repeat

HLB Tap on Phone is a contactless mobile payment method introduced by Hong Leong Bank back in 2020, during the Covid-19 pandemic. Tap on Phone service is compatible with Android mobile devices to easily accept card payments with just a tap on the phone. No pun intended.

This contactless feature has been made accessible via a collaboration with Payments Network Malaysia (“PayNet“), which is powered by Soft Space, with the purpose of lowering the cost of becoming cashless, even more for companies.

More and more people and businesses are turning to cashless and contactless payments as a safer and more convenient alternative to traditional methods of payment, ever since the MCO. The HLB Tap on Phone will help expand this payment option even further by enabling businesses to use their Android mobile devices as a payment acceptance terminal for VISA, MasterCard, and MyDebit payments via near-field communication (“NFC”), allowing for payments to be made anywhere, at any time. For micro and small enterprises, the new contactless payment system offers a cost-effective alternative to leasing and paying monthly maintenance costs for separate card payment terminals.

It is not the first time that a payment solution of such has been introduced; other banks, like Maybank’s Tap2Phone and CIMB’s Tap n Pay app.

Further clarification was provided in a separate FAQ document, which said that businesses wishing to use HLB Tap on Phone should first create a current account with the bank in order to ensure a seamless onboarding process. Another option includes registering as a merchant at any of the HLB branches. Once this is completed, you will be able to submit an application for the HLB Tap On Phone solution.

The bank will inform you of the status of your application, and you will then be able to download the app from the Google Play.

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