Foloosi, Mastercard, Network International launch Tap on Phone in UAE

Foloosi, Mastercard, Network International launch Tap on Phone in UAE

By Leandra Monteiro

Foloosi is one of the first payment service providers in partnership with MasterCard and Network International offers Tap-On-Phone services, an innovative digital solution that enables contactless transactions for merchants in the United Arab Emirates.

Tap-on-phone payments enable businesses to accept payments digitally from any contactless card or mobile wallet, or even a portable wallet, right on their NFC-enabled smartphone.

Easily converting smartphones into secure mobile points of sale, no additional hardware is required as the Foloosi Tap On Phone app is a digital payment solution for businesses on the go, enabling fast and convenient payment options.

At the point of sale, a customer can swipe their card on the back of the company’s smartphone to successfully complete the payment without having to fiddle with the old traditional machines or face the challenges of cash transactions.

Once a merchant uses the Foloosi Tap app, they drastically reduce the need for heavy and bulky POS machines. POS machines come at a high price and the software needs regular maintenance. While a smartphone acts as a mobile point-of-sale terminal with Tap On Phone, this type of payment is practical and convenient for both the retailer and the customer.

Foloosi graduated from the Sharjah Entrepreneurship Center Sheraa Incubator Program, a part of the Fintech Hive at DIFC, Abu Dhabi Youth Hub Incubator Centers and is ranked as the 15 Best Fintech Apps in the Middle East by Forbes Magazine.

Foloosi CEO Omar Bin Brek said: “Since the outbreak of the pandemic, we knew that digital and contactless payments would be the need of the hour and Foloosi wanted to integrate tap-on-phone as early as possible. We are now happy and excited that the launch date is over and the product is live!”