There was a time when cash was the only accepted form of payment. Then the credit card emerged. In more recent years other forms like PayPal have been introduced. One of the more recent is Apple Pay and many businesses were initially reluctant to accept it as a form of payment. That reluctance seems to be wearing off.
Apple Pay is a form of contactless payment. A customer taps the Apple Pay button on their iPhone which brings up their information and then taps the phone against the merchant’s receiver to transmit their information and authenticate the payment. The customer has to keep their finger on the TouchID pad so their biometrics will validate their identity. Apple Pay also has an online presence much like PayPal and is an e-commerce payment option.
Apple Pay is easy to integrate into an e-commerce solution and is compatible with many of the most popular solutions available including CardConnect which JLE Consultants uses. Many merchants with online portals are finding that by accepting Apple Pay it is leading to a higher conversion rate and lower cart abandonment since it makes it easy for people to buy online. It has made online shopping via a mobile device easy. It is also secure and provides its own encryption so there will be no problems with PCI compliance.
Apple is one of the most popular companies on the planet and has a huge devoted group of followers who are quick to jump on anything that they introduce. That alone cannot explain the nearly 500% increase in transactions from 2015 to 2016 so they have done something right. Apple is also making it easier to integrate it into rewards programs so it can help to build customer loyalty. Is it right for your business? It could be. Be sure to ask your processor and if it is something that you would like to integrate give JLE Business Consultants a call.