Company Announcements

Cloud-native merchant acquiring solution is part of Jack Henry's SMB strategy

MONETT, Mo. , Aug. 14, 2025 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) today announced the initial launch of Tap2Local™, a new digital payments solution that enables banks and credit unions to meet the evolving needs of their small and medium-sized business (SMB) customers.

Developed in collaboration with Moov, a modern digital payments processor, the cloud-native Tap2Local solution offers merchants many distinguishing features. Those include the ability to accept debit and credit card payments directly through tap-to-pay on both iOS and Android devices, eliminating the need for additional hardware, as well as continuous account reconciliation to the accounting platform of their choice. Transactions are processed through all major card networks.

Unlike most other payment solutions for small businesses, Tap2Local is offered exclusively through banks and credit unions. It is currently in closed beta testing with several financial institutions and is on track to be rolled out to the more than 1,000 banks and credit unions on the Banno Digital Platform™ over the next several months.

"Tap2Local is the first new key component of our overall SMB strategy to help banks and credit unions win with small businesses and capture significant new market opportunities," said Jack Henry President and CEO Greg Adelson. "This innovative solution integrates with banking services, enabling financial institutions to simplify the payments experience for small businesses, capture more deposits, and win back business from payments-only fintechs."

Jack Henry Chief Technology Officer Ben Metz said Tap2Local fulfills a need for small businesses, of which about 82% are sole proprietors, according to the Small Business Administration.

"Tap2Local helps all small businesses and the millions of people who participate in the gig economy accept card payments face-to-face and on-the-go," Metz said. "We've made it easy for them to enroll through their bank or credit union and start accepting payments in their banking app within minutes. Additionally, our automated accounting feature can save them time, giving them back valuable hours to focus on their passion."

Banks and credit unions are increasing their focus on small businesses. In Jack Henry's 2025 Strategy Benchmark Survey, 80% of clients said they plan to expand services for small businesses over the next two years. Of those clients, nearly seven out of 10 cited payments as the SMB service they planned to add.

This demand is further underscored by research from Datos Insights, which found that 82% of small businesses want their primary financial institution to offer more payments options. The research also revealed that 75% of small businesses go outside their financial institution for at least one financial need.

Jeff VanDeVelde, senior director of Marketing at Jack Henry, said the Tap2Local name represents the strength of the relationship between community banks, credit unions and the small businesses in the local communities they serve. "This solution solidifies the bank or credit union's place at the center of the local economy by providing a modern tool that helps SMBs run their business while keeping their banking local," VanDeVelde said.

About Moov
Moov is a new kind of payment processor, built from scratch in the cloud to make payments easier for developers & businesses. With Moov, businesses accept, store, send, and spend money — all through one simple integration. Moov is driven by a give-first mindset and supports a thriving network of developers with open-source libraries and a growing community. Discover how Moov can transform your payment operations at moov.io.

About Jack Henry & Associates, Inc.^®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For nearly 50 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are "forward-looking statements." Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company's Securities and Exchange Commission filings, including the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.

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SOURCE Jack Henry & Associates, Inc.