Mr. Alec Morley reports

TD TO LAUNCH FULL SERVICE ECOMMERCE PLATFORM FOR CANADIAN SMALL BUSINESSES

Toronto-Dominion Bank has launched TD eCommerce Solutions, a turnkey, highly customizable e-commerce platform, that enables Canadian small businesses to quickly begin selling their products and services online and accept payments with ease. Offering a comprehensive set of flexible features including intuitive webstore design tools from leading open SaaS (software as a service) e-commerce platform BigCommerce, inventory and order management, and a full suite of payment solutions from TD, the TD e-commerce platform delivers a customizable and easy-to-use storefront, providing trusted solutions that scale without compromising performance.

According to forecasts, e-commerce is poised to make up nearly 12 per cent of total retail sales in Canada this year and more than 80 per cent of Canadians are digital buyers -- up 20 per cent in the last five years. By reducing barriers traditionally associated with setting up an online business, TD eCommerce Solutions makes it easy for companies to start, run and thrive in today's rapidly evolving retail marketplace.

"At TD, we recognize the vital role small businesses play in the Canadian economy, driving innovation, creating jobs and boosting communities," said Alec Morley, senior vice-president, Canadian small business banking at TD. "As a bank committed to supporting local businesses, we're proud to help our customers succeed by providing them with e-commerce tools and trusted solutions that support their growing businesses and help them reach new customers."

At launch, TD eCommerce Solutions, powered by BigCommerce, will be available to all TD Business Banking customers and new customers, offering a full suite of capabilities, including accounting features and search engine optimization, fraud detection and multiple payment acceptance offerings as businesses grow and evolve. TD customers can take advantage of same-day deposit and streamlined billing, allowing businesses to manage payments to multiple parties.

Additionally, TD eCommerce Solutions provides small business owners with a single onboarding experience and provider for all their webstore and payment acceptance needs, as well as full-service support through the TD Merchant Solutions contact centre plus technical support provided by BigCommerce.

"Offering on-line purchasing was once considered optional, but in this post-pandemic era, we know that purchase patterns have changed and that significant transactions are made online," says Mr. Morley. "Our customers want to have a presence in digital buying, and together with BigCommerce we will deliver."

"This collaboration combines the robust capabilities of TD business banking services with the cutting-edge technology of BigCommerce's e-commerce platform, creating a dynamic all-in-one commerce and banking solution," said Brent Bellm, chief executive officer of BigCommerce. "This innovative unified offering opens the door to new revenue streams and growth opportunities for Canadian businesses of all sizes."

About Toronto-Dominion Bank

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. TD is the sixth-largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe.