CIBC Caribbean facilitating small businesses with tap on phone

Published on December 1, 2025

Small and medium sized enterprises (SMEs) will now find it easier to transact business with customers following the introduction of the new Tap on Phone service.

This innovation for the Barbados market was presented to a number of small and medium size businesspersons in an intimate launch of the product at the CIBC Caribbean Warrens Great House recently.

The introduction of Tap on Phone reflects the bank’s continued commitment to innovation, convenience and financial inclusion.

It enables merchants to accept contactless payments easily and securely using a compatible smartphone. It actually transforms smartphones into contactless terminals that allow them to accept card payments from customers without additional hardware.

In explaining what it is, Jennifer Fuller, Director, Enterprise Payments, Cards & Merchant Services, CIBC Caribbean, said “Simply put, it’s a new contactless payment technology that allows clients to pay in seconds using their Smart Phone or tablet”.

She went on to add that the technology embodies simplicity, speed and security. “But more than that, it represents the way we at CIBC Caribbean continue to make doing business easier, smarter and more connected for everyone”.