SoftPOS is a term used to describe software-based Point-of-Sale (POS) solutions used primarily by merchants for in-person sales. Previously the payment would have been processed on a POS terminal when a payment card is either inserted (chip and pin) or tapped (Tap and Go). Tap on Phone now allows for the removal of the POS terminal and a mobile phone/device can be used for the payment card to be 'tapped'.