It’s Just Double Dumb For Business Owners to Not be Apple Pay™ Ready!

February 21st, 2015

I don’t mean to infer business owners are dumb. We all do dumb things from time to time. I know, I’m an expert on that subject. It is just, shall we say, a less than wise thing to procrastinate getting your business ready to accept payments from existing and potential customers who want to use the new smartphone technology.

Consider these things. Apple™ will soon be releasing the Apple Watch™, which, like their recently released iPhone 6™ and iPhone 6 Plus™ will be ready to use with Apple Pay™ . How many millions will they sell? Are you going to look at getting one? How many people do you see using the new iPhone 6™ platform? My guess is a lot! According to their quarterly report there were 74.5 MILLION units of the iPhone 6™ sold in the last three months of 2014. It makes one wonder how many would have sold if they would have been readily available. I myself could not find one until February of 2015! How many do you think have sold this year with waiting lists at all of the Apple™ stores? How many units of the Apple Watch™ will sell when it is released in the near future?

Below are some questions I’ve received about the subject, along with answers.

What is Apple Pay™?
Apple Pay™ allows your customers to pay using their smartphone, (or soon their watch), to pay for goods and services. It is safe and secure. Each transaction is authorized by pin or fingerprint sensor and generates a one time token. Even if it is intercepted it is useless to the person trying to hack it. No card data or names are exchanged making it possibly the most secure method of payment available today.

How do I accept Apple Pay™?
Accepting Apple Pay™ is as simple, or more simple, than accepting a credit card as long as you have the right equipment. (see below).

What Equipment Do I Need?
You will need an NFC enabled credit card terminal or Point Of Sale System, (yes, both are available). Without this technology there is no path of communication between the smartphone and your payment equipment.

What Will It Cost Me?
There are no additional “transaction fees” or *discount fees” to the business owner to accept Apple Pay™. However, you will need updated NFC equipment. Many sales reps and processors may charge you hundreds if not thousands of dollars to upgrade your equipment. However, (here comes the shameless plug), I can upgrade your standard terminal for free as long as you use my office for processing. I can even get full blown Point Of Sale Systems placed for free as long as you pay the normal POS service fees.  Call our number as seen on this site or send or click contact us and send a message.  We will get back with you.

What is the Price of Doing Nothing?
When your customers get a new iPhone 6™ with Apple Pay™ they will eagerly seek out merchants who accept the technology to try it out. It is faster and more secure than traditional credit cards. Will you be able to accept their payments or will they need to find a competitor that does?

Consider these facts gleaned from the Apple™ quarterly report and the Macworld publication;

Apple pay is already responsible for 50% of mobile payments purchases at fast-food giant McDonald’s™

Apple Pay™ is already working with over 90% of the USA’s most used payment cards.

According to Credit Card giant Visa™ Americans are now twice as likely to carry a mobile phone as they are to have cash with them. Those between the ages of 18 and 34 are four times as likely.

Media website Business Insider claims that the use of in-store mobile payments will grow by 4,200% by 2018.

Even the government is signing on… President Obama signed an executive order mandating that certain government agencies ready themselves to accept mobile payments.

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