What is Apple Pay?
It’s a convenient way for iPhone 6 users to pay with their iPhone. To get set up, users register with Apple and load their preferred credit cards. Then they can walk into any merchant location that is Apple Pay ready and pay with a touch of their phone. And it’s easy – there is no need to wake up the display or look at the screen. A subtle vibration and beep lets them know the payment was accepted.
How does it work?
The iPhone 6 has an innovative “NFC” antenna. NFC simply stands for Near Field Communication. It’s Bluetooth for payments. It allows payment devices close to each other to send and receive signals and complete a credit card sale.
What does this mean to me as a merchant?
Apple iPhone users today make up 42% of the smart phone market. Early indicators are that Apple Pay will be no different. Whole Foods just announced that 1% of their total sales were done with Apple Pay within 17 days of having it available. So your customers are going to want it more and more.
Most existing equipment does not support the use of Apple Pay. Of the 10 million merchants accepting payments today, only 225,000 of them have payment terminals that can take Apple Pay. So you may need to upgrade your equipment. The good news is that when you upgrade to Apple Pay, that equipment is also EMV ready, so you kill two birds with one stone. And if you are among the first to take Apple Pay in your neighborhood, iPhone users will love you. This is a hot new product that is generating lots of buzz and interest. Be one of the first to say “we have this”.
How UMS Can Help?
UMS has successfully completed all beta testing on Apple Pay and we are ready to roll this out to you.
Call us today for more information!
Phone: (800) 324-8323