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One of the fastest growing payment trends is consumer adoption of mobile payment solutions such as Apple Pay and Android Pay. Every business should be making efforts to ensure that their company is ready to receive payments from these consumer mobile payments solutions.
Increased Security and Privacy
Both Apple Pay and Android Pay feature multiple layers of protection to ensure that consumer data is secure through each part of a transaction. Both services utilized encrypted NFC technology to connect to a cash register before generating a unique security code for each transaction. Merchant’s never have access to a customer’s name or credit card number. This allows business and consumers to breathe easy knowing that their personal data is safe and secure from hackers.
You Already Have Equipment To Accept It
In order to accept payments from Apple Pay or Android Pay, a business needs payment terminals that support contactless transactions with NFC. Due to the EMV standard introduced in the United States, most businesses already have payment terminals that are also capable of accepting NFC transactions. To learn more about whether or not your payment terminal is compatible with Apple Pay or Android Pay, contact your payment processor.
Simpler Payments for Customers
Both Apple Pay and Android Pay streamline the payment process. Customers can store all of their credit cards within the app, then choose which credit card to use for each transaction.
Payments can be made without the need for customers to even open their wallet, allowing for faster and easier transactions. The advantage to businesses who accept these payments systems include saving time and being able to control the entire payment process with one system.
E-Commerce and In-Store Transaction Parity
Apple Pay and Android Pay allow consumers to use the same system for online orders as in-store orders. This allows customers to easily make online transactions with the same simplicity as an order made in-store. Small businesses should make efforts to incorporate these payment solutions in order to simplify the online shopping options for their customers.
Works With Your Rewards Programs
Both Android Pay and Apple Pay work with rewards cards to further encourage customers to shop at your business.
Let Customers Know You Accept Apple Pay and Android Pay
Let your customers know that you accept mobile payment solutions by downloading the Apple Pay and Android Pay decals to use with your company emails, your website, and in stores.
Learn more about Apple Pay.
Learn more about Android Pay.