TD Bank has become the latest of a small but growing cadre of banks and payments processors that are making “Tap to Pay with iPhone” capability available to small and micro-sized businesses in the U.S. Tap to Pay with the iPhone, created by Apple, can be accessed through apps developed by individual banks and payment processors. The service enables merchants to accept digital wallets, contactless cards, and payments-enabled wearables using an iPhone, with no attachment or reader required and acting in place of a dedicated payments terminal. Tap to Pay with iPhone, by definition, can only be accessed with a recent iPhone, but it permits acceptance of payments from Android and other devices. Data is transmitted and received using the merchant iPhone’s near-field communication (NFC) chip. Apple introduced the function in early 2022, with Stripe becoming the first payments platform company to make the capability available to merchants in the U.S.