TD Bank is one of the first major U.S. banks to introduce Tap to Pay on iPhone, a secure, mobile-based payment acceptance option that provides greater flexibility and convenience for small and micro businesses. .
Cherry Hill, NJ, February 22, 2024–(BUSINESS WIRE)–TD, America's Most Convenient Bank®today announced the launch of Tap to Pay on iPhone. This will enable small and micro business owners across the United States to use their mobile phones for a seamless and secure point-of-sale (POS) experience.
With Tap to Pay and the TD Bank mobile app, business owners can accept all types of in-person contactless payments, from contactless credit and debit cards to digital wallets and wearables, using just their iPhone. can do. Tap to Pay eliminates the need for an additional POS. hardware.
Business owners can also use Tap to Pay on iPhone as a complementary solution to in-store POS systems, allowing them to accept payments on the go. Whether you're setting up as a vendor at a local market, running a food truck or landscaping business, or running a pop-up shop, Tap to Pay in the TD Bank mobile app lets businesses of all sizes stay on the go. You can transact directly and accept payments. their cell phones.
“While we often encourage consumers to ‘shop small’ to support local economies, we recognize that there can be friction in the POS experience for small and micro businesses. We know that,” said Chris Giamo, head of commercial banking at TD Bank. “Through solutions such as Tap to Pay on the TD Bank mobile app, we are helping small businesses deliver a seamless payment experience that aligns with customer expectations by providing modern convenience and additional technology to small businesses. doing.”
What customers want: easier, better, faster, cheaper
TD recently conducted a study on small businesses (defined as those with 25 or fewer employees and annual revenue of less than $100,000) to understand how today's smallest businesses process transactions and payments. was carried out.
The survey found that more than one-third (33%) of small business owners (MBOs) are currently unable to pay on a daily basis because they do not have the necessary payment devices or hardware to support their customers' preferred payment methods. It has become clear that you are facing difficulties in your work.
“We saw a massive consumer shift to the adoption of contactless payments that began during the pandemic and continues to this day,” said Joe Jagadish, head of corporate products and services at TD Bank. Ta. “Tap to Pay on the TD Bank mobile app provides a flexible and convenient payment solution for even the smallest businesses, meeting customer preferences for convenience and ease. Every sale counts, no matter the amount, and by leveraging mobile apps to increase payment options, MBOs will never miss out on a cashless sale.”
With the majority (81%) of MBOs relying on their business as their primary source of income, TD's Tap to Pay on iPhone meets an important and immediate need for business owners and helps MBOs meet their needs. while improving the overall customer experience. Compatible with more expensive POS devices and software.
“TD is at the forefront of the Main Street economy,” said Amy Dinkar Patel, head of small business and commercial distribution at TD Bank. “We listen to the feedback of our small and medium-sized business customers and understand their pain points. This allows us to provide solutions that truly strengthen your business, increase profitability, and make operations easier. With services like Tap to Pay on iPhone, we're improving the experience. It's a win all around, for our customers and for our customers' customers.”
Tap to Pay on iPhone, powered by Autobooks, is the latest addition to TD's growing suite of payment solutions. TD Merchant Solutions offers a variety of in-person, mobile, e-commerce, and POS solutions so business owners can accept customer payments and earn rewards in the way that best suits their business.
Integrating Tap to Pay on iPhone into the TD Bank mobile app expands TD's partnership with Autobooks, Inc., the technology provider for TD Online Accounting. TD Online Accounting allows TD customers to send digital invoices, accept debit and credit card payments, and streamline cash flow and accounting for their TD Small Business checking account.
For more information about TD Tap to Pay on the TD Bank mobile app, visit https://www.td.com/us/en/small-business/online-accounting/tap-to-pay-iphone.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the largest banks in the United States, providing retail, small business, and commercial banking services to more than 10 million customers in more than 1,100 convenient locations throughout the Northeast and Midwest. We offer a full range of products and services. Atlantic, Metro DC, Carolina, Florida. In addition, TD Auto Finance, a division of NA TD Bank, provides vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth.®. TD Bank's headquarters are located in Cherry Hill, New Jersey. For more information, please visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter. www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.
TD Bank, America's most convenient bank, is a member of the TD Bank Group and a subsidiary of Toronto-Dominion Bank, Toronto, Canada, a top 10 financial services company in North America. Toronto-Dominion Bank trades on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “TD.” For more information, please visit www.td.com/us.
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