Requirements

Yes. TAP leverages smartphone features such as cellular communication, GPS location and biometric authentication.
TAP requires BLE (Bluetooth 4.0) that is now common on smartphones. The smartphone does not require NFC (Near Field Communication) or a fingerprint sensor. The TAP can be used with smartphones running Apple iOS, Android or Windows.
No. However, a computer can be useful to access account information and reporting as well as reporting a lost or stolen device.
No. A smartphone is required to activate the device (and may be required periodically to re-activate). However, the smartphone is not required once the TAP is active.
Yes. A mobile application is required for use on the smartphone.

Load

You can access your account online from any computer, or directly from the mobile app. The source for the load can be a current credit or debit card, or directly from a banking account. There will also be a number of physical retail and convenience store locations where value can be loaded onto the TAP using cash.
Yes. The highest balance available on the TAP at any time is US$500.
Yes. You can choose to automatically reload the TAP on a regular basis, or when your balance dips below a given amount.
Small load fees apply if the funding source is a credit or debit card. There are no fees if the TAP is funded with cash or directly from a banking account.

Limits

Yes. For security (or to control family spending habits), you may place spending limits on your TAP. These can be modified or removed at any time directly from the mobile app.
Yes. You can place 'geo-fences' on where your TAP can be used. For example, limit spending to locations within 10 miles of your home or office.
Yes. You can essentially put your TAP to 'sleep' at certain times of the day - when you are sure you won't need it e.g. sleeping hours, during workouts.

Activation

TAP can only be used when in 'active' mode. You activate your TAP using your smartphone and the companion mobile app. Enter your PIN and/or fingerprint (e.g. Apple Touch ID) to activate.
No. Once your TAP is active, no re-authentication is required until it de-activates. This could be done manually, on a timed basis, or because a security event occurs.

Usage

TAP can be used at retail stores and restaurants that have 'contactless' or 'NFC' readers at the point-of-sale. Typically, you will see branding such as Mastercard Paypass, Visa Paywave, Express Pay and Discover Zip.
When you are ready to make a purchase, simply press and hold the button on your active TAP and tap or hold close to the contactless reader.
Generally, for purchases less than $50, no signature will be required. However, the merchant may request one.
Spending is limited to the value loaded onto your TAP, or previously chosen spending limits that you have assigned (or a parent!).
TAP was designed to deliver convenience and security. Although many point-of-sale devices can only process 'magstripe' plastic cards, this is changing quickly. Unfortunately, you will not be able to use your TAP at these locations. If you love your TAP, encourage them to upgrade their readers!
This functionality is under development.

Security

In the United States, the majority of credit and debit cards use 'magnetic stripes' to store account information. This outdated technology stores data that is easily read and copied. As a result, your are risking your financial information every time you use this type of card.

TAP provides enhanced security in a number of ways. First, it provides a firewall between the retailer and your valuable financial information - your credit and debit card information is never seen at the point-of-sale.

TAP uses state-of-the-art NFC (Near Field Communication) to communicate information that is dynamically signed each time. Even if this data is intercepted or recovered - it is useless to a hacker.

By pairing the TAP to a smartphone, security is enhanced by ensuring that the device is only usable by its owner.
Not all smartphones have fingerprint technology yet. However, if it is available you can elect to use it or not. A PIN is always required.
Even if a hacker were to successfully intercept communications between a TAP and point-of-sale device, the data would be of little value. However, we have added another level of assurance by requiring that you press the TAP's button while making a purchase. Without the button pressed, the device is invisible to scanners.

Account

You can open an account online from any computer, or directly from the companion mobile app.
Yes. Internet access is required, as well as your chosen username and password.
Yes. All transaction data is available at any time.
If desired, transaction notifications can be delivered by email, text message or directly through the companion mobile app.
Yes. TAP is a great way to provide kids with purchase power AND spending limits. You can load or re-load their TAP at any time or place, and spending limits can include amount, frequency and location.

Lost & Stolen

Depending on how you have configured your TAP, losing it presents little risk. However, we recommend that you immediately log into your account from any computer and report the loss. This will render the TAP un-usable.
If you thought your lost your TAP, but have found it, simply log in to your account from any computer and report the recovery. Your TAP will be usable again.
If the TAP is in the 'active' state - it can be used by anyone. However, there are many ways to protect your device. For example, pairing with your smartphone will deactivate the TAP is they are physically separated by more than 50 feet. You could choose to activate the device when you are in line at a store, and immediately deactivate after you have completed your purchase. There are lots of ways to reduce the risk.

Technology

NFC (Near Field Communication) is short-range wireless communication, typically used in smartphones and other mobile devices. To communicate the devices must be within a couple of inches of each other. Typically, this means you must 'tap' the two devices together.

TAP uses NFC to communicate with point-of-sale devices that incorporate the technology. This is the same technology used by Apple Pay, Google Wallet, and others.
BLE (Bluetooth Low Energy) is a part of the Bluetooth 4.0 specification. You will be using BLE to control your TAP from your smartphone. BLE is available on most new smartphones, tablets and computers.

Size & Form Factor

The TAP is approximately 40mm round with a thickness of 10mm.
The TAP is made of a durable plastic.
No, but it is water-resistant. Like most electronic devices, the TAP doesn't care for water. The odd drop shouldn't harm the device, but it should not be completely submerged, for example.

Power & Charging

The device has very low power requirements and does not require charging or re-charging.
None. No power cables are required. The TAP communicates with smartphones wirelessly - no data cables are required.

Battery

TAP operates on standard coin-cell batteries commonly found in watches.
A new battery should last around one year with typical usage.
You are able to monitor battery levels with the smartphone companion app.
Yes. Replacing a battery can be done by the owner in minutes.
Simply remove the cover (with a screwdriver, coin or provided tool), remove the battery and insert a new one. This procedure if fast and easy.

Cost & Fees

The list price for TAP is US$99. However, customers can presently take advantage of early bird pricing of $69.
Pre-orders are now open at our website
Yes. Pre-orders are limited to 3 devices.
No. The TAP is a very personal device. By removing the ability to re-sell or transfer the device, there is less incentive for someone to try to steal your device.

Availability

We're currently busy on development, and expect the TAP to enter production by Q3, 2015.
Initially, TAP will only be available directly from us, and only for residents of the United States. We hope to expand into international markets shortly thereafter.
Our Beta Program is currently over-subscribed, but if you would like to be considered should new spots open, please email us at betaprogram@tappay.com

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