5 reasons to accept apple pay - person checking out using NFC and cell phone

5 reasons you should be accepting apple pay

Tuesday, November 11, 2014

As payment systems innovate and integrate new technology, it is critical for businesses to adopt these new systems to meet customer demand and expectations. Customers want a seamless checkout experience and businesses want quick and secure transactions. One method for ensuring benefits and satisfaction for both customers and small business owners is the introduction of Apple Pay into your operational processes. This article will outline what Apple Pay is, how it works, and why you should start accepting this payment method at your business. 

What is Apple Pay?

Apple Pay is a mobile payment system developed by Apple Inc. Customers set up Apple Pay through their mobile devices by adding their debit card, credit card, or banking information which is securely stored on their phone, in the app, and in the iCloud. Payment data is stored in the app, so when a payment method is required during a transaction, the customer taps their phone on a card reader and successfully provides access to their digital wallet. In addition to enabling contactless payments at checkout, Apple Pay can also be used to send or receive payments to other Apple Pay users or can be used as an Apple cash card. Apple Pay is becoming the preferred type of payment for customers: it is easy, quick, and, most importantly, it is secure. 

Why you should be accepting Apple Pay 

1. Mobile payments like Apple Pay are faster and more efficient

Instead of customers having to use a physical card or cash for payment, Apple Pay customers can use their Apple watch, iPhone, or iPad with a compatible card reader that supports Apple Pay. This eliminates the need for customers to pull out cash from their wallet or purse; instead, the future of payment for customers is the utilization of a mobile wallet. 
The payment process becomes nearly instantaneous and allows businesses to process customers through the point of sale (POS) process faster. This is especially useful for business owners on busy days or at peak shopping times where customers can checkout quicker. 

2. Security and fraud prevention

Unlike requirements for card payments such as Visa or Mastercard, Apple Pay has an extra layer of security during the payment process. To access Apple Pay on Apple devices, users have to provide fingerprint verification (touch ID), face recognition (face ID), or passcode authentication. Not only does the device have to be unlocked, but the app can only be accessed through this additional authentication. Apple Pay's additional security measures prevent fraud. Unlike if a physical wallet is stolen, theft is minimized and user information is more highly protected. 
Moreover, another key aspect of fraud and hacker prevention is the use of tokenization to protect account numbers. Tokenization hides the actual credit card account number with a series of generated numbers. The random numbers are called tokens and protect the financial information, like card numbers, throughout the transaction process. Other payment providers aren't always able to ensure this level of data protection and security. Apple Pay works quickly; however, it is the security measures that bring an added value to users, whether they’re paying or receiving money. 

3. Contactless payments

Since the start of the COVID pandemic in 2020, it has been more important to customers to have contactless payments wherever possible. And it seems clear that contactless payments are here to stay. Instead of exchanging payment methods by hand, such as credit cards or debit cards, Apple Pay payments enable automatic processing of wallet app information. Customers don't have to touch a POS system screen, and employees can use Apple Pay to get the necessary information via authentication in just a few seconds. The entire transaction from start to finish focuses on the overall customer experience instead of losing time waiting for payment processors to confirm payment. 
 

4. Apple pay is easy to use

85% of retailers in the United States have begun to use Apple Pay and include it as part of a payment method option for customers. One of the primary factors for Apple Pay's growth is the ease of use and overall functionality in business operations. Once businesses have compatible hardware and payment processors, Apple Pay transactions can commence. Businesses can attract new and existing customer bases with alternative payment options, which are increasingly popular with consumers and give customers confidence that they can shop with efficiency and ease.

5. Integration and adoption

Apple Pay is one of the most popular (if not the most popular) mobile payment system among consumers and businesses using contactless payment systems. Plus, Apple Pay is more widely accepted than other mobile payment companies such as Venmo or PayPal. Because of this, the steps toward integration and adoption are more straightforward and easy to take as they are more established than other platforms. To get started with Apple Pay at your business, see the steps outlined below. 
 

How to get started accepting Apple Pay at your business

Ask Your Payment Processor or Merchant Service Account About Apple Pay
To begin accepting mobile payments, including Apple Pay, your business will have to check to ensure that your payment processor and existing hardware supports Apple Pay transactions. The biggest requirement for a terminal that supports Apple Pay transactions is one that utilizes near-field communication (NFC) technology. If your current hardware does not have this functionality, your business may need to consider adopting updated hardware to allow for this type of payment with your payment processor. 

Get an NFC-enabled payment terminal

NFC is the technology that transmits payments for Apple Pay. NFC is the bridge of communication for two devices to connect (such as Apple Pay and the business’s payment system). Once the communication is successful, the payment can be processed and completed. Any business that wants to integrate Apple Pay into their operations and workflows will need to install a payment terminal that is able to use NFC technology. 

Set up your reader

Once your business has an NFC functional terminal, you will need to set up the NFC credit card reader. It is often necessary to test the reader to make sure it works. You should also set up the reader so that it is in the line of view of your customers. That way, customers can see that your company accepts Apple Pay and other forms of contactless payments. Once customers recognize this, they will more likely return to your business knowing that they can make a payment securely and efficiently.

Train your staff

Before launching Apple Pay and other mobile wallets, it is critical to train your staff on how the transaction works and how to support customers in using this new payment system.
Mobile payment systems are generally user-friendly; however, it will be beneficial for employees to practice and fully understand the process before rolling it out with your customer base. If you’re utilizing Apple Pay for ecommerce purposes, it is necessary to review those transaction processes with employees as well since there may be alternative or additional steps to take with digital platforms.

Once the infrastructure has been established at your business and your employees are trained on accepting mobile payments, you are ready to launch Apple Pay. 
Over time, your business can observe how contactless payments with Apple Pay go for your company, eventually exploring options with other iOS devices or even Android and Google Pay systems. Apple Pay is a step into the future of how business transactions are performed and allows for your company to adopt the newest and most effective technology.

Are you ready to start taking Apple Pay in your business?

Heartland is the point of sale, payments and payroll solution of choice for entrepreneurs that need human-centered technology to sell more, keep customers coming back and spend less time in the back office. Nearly 1,000,000 businesses trust us to guide them through market changes and technology challenges, so they can stay competitive and focus on building remarkable businesses instead of managing the daily grind. Learn more at heartland.us

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