73%
of small businesses said new forms of digital payments
are fundamental to their growth
Source: Visa | Visa Study: Small Business Optimistic, Looking to Digital Payments for Growth in New Year
59%
plan to shift to using only digital payments within the next two years, or are already cashless
Source: Visa | Visa Study: Small Business Optimistic, Looking to Digital Payments for Growth in New Year
FAQs your business customers may have
How do I get started with Tap to Pay on iPhone?
Download your financial institution’s mobile banking app or just access your financial institution’s online banking via a secure browser like Safari. Click Tap to Pay on iPhone, then follow the onscreen directions. No extra terminals or hardware is needed.
Is Tap to Pay on iPhone secure?
Tap to Pay on iPhone uses the built-in features of iPhone to keep your business and your customer data private and secure. When a payment is processed, Apple does not store card numbers on the device or on Apple servers, so you can rest assured knowing your business stays yours.
What payment methods are accepted with Tap to Pay on iPhone?
Customers can pay with contactless debit and credit cards (Visa, Mastercard, American Express, Discover), as well as with Apple Pay and other digital wallets. Cards must display a contactless symbol to make contactless payments.
How soon can I expect to receive funds after a customer pays?
Funds are usually deposited within two business days of the payment submission, and go directly into your checking account held at your financial institution.
How much do you charge to accept online payments?
When you accept a payment using Tap to Pay on iPhone, you will incur a 2.75% transaction fee. This fee applies to all payment methods, including contactless cards and digital wallets such as Apple Pay, Google Pay, and Samsung Pay.
What specific iPhone model do I need?
Tap to Pay on iPhone requires iPhone Xs or later with iOS 15.5 or later. Tap to Pay on iPhone is only available in the U.S.
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