2952: How BT Group's Incubation Hub Etc. is Revolutionizing Small Business Payments

In this episode, I sit down with John Gutch, the FinTech Product Director at Etc., the incubation arm of BT Group. Have you ever wondered how small businesses can streamline their payment processes without investing in additional hardware? This episode brings exciting news for entrepreneurs and small business owners looking to modernize their payment systems with minimal hassle. BT Group, in collaboration with the financial technology platform Adyen, has introduced the BT Tap to Pay app. This innovative solution allows small businesses to accept contactless payments directly via their iPhone, eliminating the need for additional devices. Available now on the Apple App Store, BT Tap to Pay leverages the iPhone's robust security features and the reliable EE network, enabling businesses to process payments from virtually anywhere. John Gutch delves into how this service offers a competitive 1.4% transaction fee and ensures funds are available within 48 hours. This move addresses a significant pain point for small businesses—handling payments on the go or remotely. With early positive feedback from diverse sectors like driving instructors and food trucks, the BT Tap to Pay app is proving to be a game-changer. Join us as we explore how BT’s innovative approach through its Etc. incubation arm is not only simplifying payment processes but also pushing the boundaries of what’s possible with emerging technologies. From converting old broadband cabinets into EV charging stations to continuously learning and evolving, BT is at the forefront of tech innovation. How do you think technology like BT Tap to Pay can impact small businesses? Share your thoughts and join the conversation.