TD has launched Tap to Pay on iPhone. This enables small and micro business owners to use their mobile phone for a seamless and secure point-of-sale experience.

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. This includes contactless credit and debit cards, digital wallets and wearables. In other words, Tap to Pay eliminates the need for additional POS hardware.

Business owners can also use Tap to Pay on iPhone as a complementary solution to their storefront POS systems. This allows them to accept payments on the move.

“To support local economies, we often encourage consumers to shop small. But we know there can be friction in the small and micro-business POS experience,” said Chris Giamo, Head of Commercial Banking at TD Bank.

“By equipping small businesses with modern conveniences and more technology through solutions like Tap to Pay on TD Bank Mobile App, we’re helping small businesses have a seamless payment experience that’s better aligned to customer expectations.”

TD recently conducted a survey on micro businesses. These are defined as having 25 or fewer employees with an annual revenue of less than $100,000. The survey revealed more than one-third (33%) of micro business owners are currently facing challenges in their day-to-day operations due to not having the necessary payment device or hardware to accept customers’ preferred payment method.

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TD extends partnership with Autobooks

Tap to Pay on iPhone, powered by Autobooks, is the latest addition to TD’s growing fleet of payment solutions. TD Merchant Solutions offers a variety of in-person, mobile, eCommerce and POS solutions. This means that business owners can get paid by accepting customer payments in ways that work best for their business.

The integration of Tap to Pay on iPhone into the TD Bank Mobile App expands TD’s partnership with Autobooks. The vendor is the technology provider of TD Online Accounting. With TD Online Accounting, TD customers can send digital invoices, accept debit and credit card payments. And streamline the cash flow and accounting of their TD Small Business Checking account.