The news: Stripe introduced Tap to Pay on Android for merchants using Stripe Terminal in Australia, Canada, New Zealand, Singapore, the UK, and the US, per TechCrunch.
Stripe already offers Tap to Pay on iPhone, Apple’s software point-of-sale (softPOS) solution.
The opportunity: Tap to Pay on Android can round out Stripe’s Terminal product suite and improve merchant loyalty by tapping two key trends.
Tap to Pay on Android will let Stripe tap a large addressable market: Android accounted for nearly 72% of mobile operating systems worldwide in January, per StatCounter.
Why it’s worth watching: While online payments have always been Stripe’s bread and butter, the firm has been expanding in-store to capture a broader merchant base and mitigate normalizing ecommerce growth: Worldwide ecommerce growth is expected to grow 8.9% year over year (YoY) in 2023, down from 26.7% in 2020, per our Worldwide Retail Ecommerce Sales forecast.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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