At Express Merchant Accounts (EMA), we make merchant services as easy and cost-effective as possible. Along with competitive rates, we help you start accepting all major credit cards within just 24 hours. Whether you already have a contactless point of sale terminal through EMA or you are ready to get started today, EMA can help you accept Apple Pay at your business for secure, convenient transactions.
What is Apple Pay?
Apple Pay is Apple's mobile payment system that allows customers to make purchases using an iOS device, such as an Apple Watch or iPhone 6. Apple Pay works by storing a smartphone user's debit and credit cards and other sensitive payment information in the Wallet app, allowing customers to use their device as a digital wallet at checkout.
Customers set up Apple Pay on their compatible Apple device and the service encrypts payment information into a unique device account number. When a customer makes a purchase, this device account number and a unique security code are used to process the payment.
Apple Pay supports most major debit and credit card providers and works with American Express, Vis, and Mastercard cards from major institutions.
Why Should I Accept Apple Pay?
Accepting Apple Pay means faster transactions than those using traditional credit and debit cards. Customers will not need to search for their card in their wallet. Instead, they can check out with a single touch within an app.
Accepting Apple Pay is also more secure than card transactions. All transactions require the use of Touch ID, Apple's fingerprint identity sensor, or a password. As a merchant, you will not receive your customer's debit or credit card numbers so you will not have any sensitive payment information stored in your system.
With Near Field Communication (NFC) technology, customers can simply hold their smartphone near your NFC-enabled POS device. The transaction will be processed the same as for a traditional card-present sale.
Is Apple Pay Right for Your Business?
Apple Pay and other mobile payment services are revolutionizing the way customers interact with merchants. Within the next five years, mobile payments in the United States are predicted to hit $142 billion per year. there's a good reason more than 220,000 retailers and restaurants have already decided to sign up with Apple Pay: lower fees.
As a merchant, you know credit card transaction fees can eat into your profits. Credit card issuers have agreed to reduce fees with Apple Pay on the expectation that the service will continue to grow in popularity in the coming years. Because Apple Pay is a very secure system that does not send card information to the merchant, card issuers have been able to reduce swipe fees that much more.
Get Started with Apple Pay Today
Express Merchant Accounts will help your business prepare for the future with the technology you need to give customers what they are looking for: an easier and more secure way to check out. Contact us today to learn more about setting up Apple Pay for your business