– New and existing Tide members can accept payments on the go, wherever they are, via Tap to Pay on iPhone
– This solution is focused on small and medium-sized businesses and eliminates the need for terminals and hardware.
– New products enhance Tide’s financial and management solutions
London, October 16, 2024–(BUSINESS WIRE)–Tide, the UK’s leading business finance platform, has partnered with Adyen, the global financial technology platform of choice for major corporations, to help small and medium-sized businesses use the Tide iOS app on their iPhone.
Tide is making Tap to Pay on iPhone available to all new and existing Tide merchants with an iPhone*. Members will now be able to accept contactless payments from customers using only their iPhone, eliminating the need for a device. New members joining Tide will soon have Tap to Pay on iPhone automatically enabled in the Tide app. This means you can start accepting payments on your iPhone as soon as you sign up for a Tide Business checking account.
Tap to Pay on iPhone allows merchants of all sizes to accept all forms of contactless payments, including contactless credit cards, debit cards, Apple Pay, and other digital wallets, using just their iPhone and the Tide iOS app. Type payments can be accepted. No additional hardware or payment terminals required. .
The ability to accept contactless payments anywhere and on the go will help new and existing Tide members provide a much smoother and more secure checkout experience for their customers. With Tap to Pay on iPhone at checkout, merchants simply prompt customers to place a contactless payment near the merchant’s iPhone, and the payment is completed securely using NFC technology. Tap to Pay on iPhone also supports PIN entry, including accessibility options.
Apple’s Tap to Pay technology on iPhone uses the iPhone’s built-in features to keep your business and customer data private and secure. When a payment is processed, Apple does not store your card number or transaction information on your device or on Apple servers.
Tap to Pay on iPhone in Tide app is based on Tide research1 One in four small business owners, employees, and vendors want to offer more payment options to their customers, with high data security, ease of use, and low transaction fees as top priorities. You can see that. Today’s release strengthens Tide’s mission to save small businesses time and money, allowing its 650,000 members to run their business almost entirely from the Tide app. Tap to Pay on iPhone powers the platform’s existing banking, finance and management solutions, including invoicing, payment and payroll services, and expense cards.
“This is a game-changing announcement for small businesses,” said Vinay Ramani, chief product officer at Tide. “Our new and existing members can now accept contactless payments using their iPhones. With a mission to save small businesses time and money, you can leave behind expensive hardware and add to your bottom line by giving you the flexibility to get paid on the go as soon as you join Tide. You can make a big difference. Contactless payments have skyrocketed since the pandemic. Rising inflation has also accelerated the demand for Tap to Pay on iPhone. We are excited to bring even more freedom to our members who want to pay with their devices.”
Nicole Olbe, UK Managing Director of Adyen, said: “According to Adyen’s research,254% of consumers say they will walk out of a store if they can’t pay for a product or service the way they want, and 27% no longer carry a wallet, choosing to pay with their mobile phone. Today marks an exciting next step in our partnership with Tide. While the financial platform now works with us on a complete face-to-face payment suite, there are currently no other providers in the UK with access to platform products such as invoicing and accounting. . ”
Click here to learn more about Tide Tap to Pay on iPhone powered by Adyen.
Note to editors:
*All members are subject to risk management as set out in our Terms of Service.
1 *Study conducted by Tide in January 2023. The study involved 320 men and women active in the small business market.
2 About Adyen Research – Survey of UK consumers in 2002. The survey was conducted from January 15, 2024 to January 29, 2024
About Tide:
Founded in 2015 and launched in 2017, Tide is the UK’s leading business finance platform. Tide helps small and medium-sized businesses run their businesses by providing not only business accounts and related banking services, but also a comprehensive set of easy-to-use and connected management solutions, from invoicing to accounting. We’ll help you save time (and money). Tide has 650,000 SME members in the UK (approximately 11% market share) and 350,000 SME members in India. Tide also received Great Place to Work certification for the second year in a row.
Tide has received funding from Anthemis, Apax Partners, Augmentum Fintech, Creandum, Salica Investments, Jigsaw, Latitude, LocalGlobe, SBI Group, Speedinvest, and others. Tidean employs approximately 2,000 people worldwide. Tide’s long-term goal is to become the world’s leading business finance platform.
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About Adyen
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading enterprises. Adyen helps businesses achieve their goals faster by providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution. Adyen has offices around the world and works with companies such as Meta, Uber, H&M, eBay, and Microsoft. The partnership with Tide described in this press release highlights Adyen’s continued growth with existing and new customers over the years.
View source version on businesswire.com. https://www.businesswire.com/news/home/20241016468087/ja/
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