HSBC partners with Stripe to launch tap-to-pay on phones for small businesses in the UK

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HSBC’s UK branch has partnered with Stripe to offer tap-to-pay on phones to eligible small business customers in the UK. Merchants can use compatible smartphones to accept supported contactless payments without needing a separate card reader. Customers can activate the service through the HSBC Business Banking app. PYMNTS reports that 8.2% of consumers used mobile wallets for their most recent in-store purchase, up from 4.3% in 2023.