Tide and Adyen enable Tap to Pay on iPhone for UK SMBs

By Gloria Methri

Tide has partnered with Adyen to enable small businesses to accept in-person contactless payments using only an iPhone and the Tide iOS app.

Now, new and existing Tide merchants can accept contactless payments from customers using just their iPhones, eliminating the need for physical terminals.

New members joining Tide will have Tap to Pay on iPhone automatically enabled in their Tide app. This means they can immediately start accepting payments on their iPhones as soon as they sign up for a Tide business account.

The ability to accept contactless payments anywhere and on the go will help Tide members provide their customers with a much smoother and more secure checkout experience. With Tap to Pay on iPhone at checkout, the merchant will prompt the customer to hold their contactless payment near the merchant’s iPhone, and the payment will be securely completed using NFC technology. Tap to Pay also supports PIN entry, which includes accessibility options.

Vinay Ramani, Chief Product Officer at Tide, said, “This is a game-changing announcement for small businesses – our new and existing members will be able to use their iPhone to accept contactless payments, and they can leave behind expensive hardware. We are on a mission to save SMEs time and money. Giving them the flexibility to take payments on the go as soon as they join Tide can make a real difference to their bottom line. It is exciting to work with Adyen and bring greater freedom to our members looking to take payments via their own devices.”

Nicole Olbe, UK Managing Director at Adyen, said, “According to Adyen research, 54% of consumers said that if they can’t pay for a product or service how they want, then they will leave the shop, while 27% never carry a wallet on them anymore – they choose to pay with their phone. Today marks an exciting next step in our partnership with Tide, as the financial platform now works with us on the full in-person payments suite. At the same time, there is also currently no other provider in the UK that has access to platform products such as invoicing and accounting.”