Prospa, Australia’s leading fintech for small businesses, has launched Tap to Pay, making it easier than ever for business owners to get paid, fast.
With no additional hardware, terminals, or complicated setup required, Tap to Pay transforms any compatible smartphone into a payment terminal. Business owners can easily accept contactless payments from physical cards, Apple Pay, Google Pay or other digital wallets – anytime and anywhere in Australia.
“We are developing tools that simplify business operations. Tap to Pay naturally extends our ecosystem – smart, intuitive, and designed to give our customers greater control over their finances,” said Andrew Malak, Chief Product and Technology Officer at Prospa.
Given that cash flow remains one of the biggest challenges and concerns for small businesses, this feature is particularly timely and advantageous. In fact, according to the April 2025 YouGov SME Sentiment Report from Prospa, 13% of small business owners say they have no cash reserves. And another 20% report having less than a month’s buffer.
“Small businesses should get paid on the spot. With Prospa Tap to Pay, there are no terminals, no waiting, no hassles – after a quick five‑minute initial setup, it’s tap, and the funds will be available in your Prospa Business Account the next business day. We build simple solutions to complex problems, such as not getting paid on time or in full, so small businesses can keep cash flowing and stay focused on their work.”
There are no setup costs or monthly fees – just a flat industry-low 1.4% transaction fee. Payments are deposited into the Prospa Business Account, providing business owners with instant access to funds to spend, repay loans, or save.
Tap to Pay seamlessly integrates with Prospa’s suite of financial tools to support small businesses. It works alongside features like Prospa’s Xero integration for simplified accounting and enhanced cash flow visibility, as well as Bill Pay for easier bill management and payment. Together, these offerings reflect Prospa’s commitment to providing technology-driven solutions that save time and support better financial decision-making.
“Prospa is now part of a growing group of Australian platforms that offer Tap to Pay – aiming to meet the agile demands of modern small business owners. However, within the non-bank SME lending space, Prospa stands alone, making it a differentiator in the market – and a great option for business owners looking to solve day-to-day finance and funding solutions in one platform.”
Tap to Pay enables small businesses to accept payments instantly, whether they are on the go, at a market stall, or in a store, ensuring their cash flow remains strong.
Tap to Pay is now available via the Prospa App. For more information, see here.