TD Bank Adds Mobile-Based Payment Acceptance Option for Small Businesses

TD Bank has launched “Tap to Pay on iPhone,” a new mobile-based payment acceptance option that aims to provide greater flexibility and convenience for business owners.

This solution allows business owners to accept in-person, contactless payments using only their iPhone, eliminating the need for additional point-of-sale (POS) hardware, TD Bank said in a Thursday (Feb. 22) press release.

This new option helps meet the needs of the one-third of micro business owners who are facing challenges in their day-to-day operations due to not having the necessary payment device or hardware to accept customers’ preferred payment methods, according to the release.

With the launch of Tap to Pay on iPhone, TD is addressing this issue and providing small businesses with a flexible and convenient payment solution that aligns with customer preferences, per the release.

Equipping small businesses with modern conveniences and technology to improve the payment experience for both business owners and customers helps small businesses strengthen their operations and meet the evolving needs and expectations of their customers, according to the release.

With solutions like Tap to Pay on iPhone, TD is not only enhancing the experience for its customers but also helping them run their businesses more efficiently and profitably, the release said. 

Tap to Pay on iPhone, powered by Autobooks, is part of TD’s comprehensive suite of payment solutions, which includes in-person, mobile, eCommerce and POS options, according to the release. 

This latest addition to TD’s offerings demonstrates their commitment to providing business owners with the tools they need to succeed in today’s competitive marketplace, the release said.

With TD Bank’s Tap to Pay on iPhone, small and micro businesses can now streamline their payment processes, improve their customer experience, and boost their overall profitability, per the release.

Tap-to-pay brings incremental revenues to merchants and speeds consumer checkout, PYMNTS reported in October. It also enables a variety of omnichannel journeys that blur the line between online and offline channels. 

In another recent deployment of the technology, Eventbrite said in January that it added tap-to-pay to its event management and ticketing platform to provide event organizers with enhanced financial flexibility and operational efficiency.