Digital Payment Solutions – Review of Jack Henry’s Tap2Local™ Product Launch

Jack Henry’s Tap2Local™ product launch arrives at a time when financial institutions are under pressure to modernize digital payment infrastructure to compete with FinTechs and support evolving SMB needs. This review explores the product’s positioning within that context, focusing on areas such as real-time payments, fraud mitigation, open banking integration, and scalability. Tap2Local™ is built with Moov and integrates with Jack Henry’s Banno Digital Platform, enabling smartphone-based tap-to-pay without external hardware. The solution supports SMBs and gig workers with embedded accounting and reconciliation features, helping banks retain deposit relationships and streamline back-office operations.

Despite these strengths, the product’s adoption potential faces near-term constraints. Closed beta status, missing performance metrics, and an unclear roadmap for integration with broader banking ecosystems limit enterprise readiness. Still, Tap2Local™ represents a step toward future-proofing digital payment capabilities for banks serving the SMB segment.