Apple’s recent announcement will change the way consumers choose to pay for goods and services.
Don’t worry – we have all the info you need right here!
What is Apple Pay?
- Apple Pay is a new way for consumers to pay for purchases. Apple has announced that the new iPhone 6 will allow consumers to store credit card information on their phones. Then, when it comes time to pay, the consumer will tap the phone on enabled terminals and use their fingerprint to confirm the purchase.
How does it work?
- Apple Pay works much like Google Wallet in that it allows consumers to store card information on their smartphones, and then tap the phone to pay on an enabled terminal which uses Near Field Communication (NFC) to communicate with the phone. The payment method is supposed to be more secure than swiping and signing a card since it uses the consumer’s fingerprint to authorize the purchase along with some in-phone technology to secure the credit card data.
What changes about my business?
- If you would like to accept payments with Apple Pay, you will need to upgrade your terminal.
- This is also an excellent opportunity to get EMV (Europay MasterCard Visa, aka “Chip & Pin”) ready, since most of the terminals that accept NFC also accept EMV payments.
Which terminals can accept Apple Pay payments?
- Integrity Payment Systems currently offers two terminals that support both Apple Pay and EMV transactions, the Ingenico ICT220 Contactless and the Ingenico ICT250. Our customer service team is ready to help you upgrade today!
Who do I call for questions?