TD Bank Introduces “Tap to Pay on iPhone” for Small and Micro Enterprises

  • TD, known as America’s Most Convenient Bank®, has unveiled the launch of Tap to Pay on iPhone, providing small and micro business owners nationwide with a seamless and secure point-of-sale (POS) experience directly from their mobile phones.

“With Tap to Pay and the TD Bank Mobile App, business owners can accept all types of in-person, contactless payments using only their iPhone – from contactless credit and debit card to digital wallet or wearable, Tap to Pay eliminates the need for additional POS hardware,” stated Chris Giamo, Head of Commercial Banking at TD Bank.

The innovation extends beyond traditional storefront POS systems, enabling businesses to accept payments on the move, catering to various scenarios such as local markets, food trucks, landscaping operations, or pop-up shops. This aligns with TD Bank’s commitment to supporting local economies and enhancing customer experiences by providing modern conveniences and advanced technology.

TD’s survey on micro businesses revealed significant challenges faced by business owners, with over one-third reporting operational hurdles due to inadequate payment devices. Jo Jagadish, Head of Corporate Products & Services at TD Bank, highlighted the pivotal role of Tap to Pay on TD Bank Mobile App in addressing these challenges, emphasizing its flexibility, convenience, and alignment with customer preferences.

For micro business owners, who often rely on their businesses as their primary source of income, Tap to Pay on iPhone offers a critical solution that enhances the overall customer experience while reducing reliance on costly POS devices and software.

Amy Dinkar-Patel, Head of Small Business & Commercial Distribution at TD Bank, emphasized the bank’s commitment to strengthening small businesses by addressing their pain points and offering solutions that improve profitability and operational efficiency. Tap to Pay on iPhone, powered by Autobooks, marks the latest addition to TD’s array of payment solutions, providing business owners with versatile options tailored to their needs.

The integration of Tap to Pay on iPhone into the TD Bank Mobile App further expands TD’s partnership with Autobooks, Inc., enhancing the capabilities of TD Online Accounting. Through TD Online Accounting, customers can streamline invoicing, accept card payments, and manage cash flow seamlessly, reinforcing TD’s commitment to empowering small businesses with comprehensive financial solutions.

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