7 Things Canadian Merchants Should Know About Apple Pay
June 9 2016 |
Apple Inc. and Canada’s big five banks recently struck a deal to bring Apple Pay™ to eager, tech savvy consumers. As a Canadian merchant, it is important to know what Apple Pay is and how you can leverage this opportunity at the point-of-sale (POS) for increased sales and a broader customer base. Merchants who offer their customers more options to pay enjoy greater loyalty and repeat sales!
- What is Apple Pay?
Apple Pay is a mobile payment and digital wallet service, which allows owners of compatible Apple devices to make payments using their iPhone, iPad or Apple Watch.
- How does Apple Pay work?
Apple Pay works via a near field communication (NFC) antenna on a compatible device which communicates with a contactless point of sale terminal. For example for an iPhone user, the customer holds their compatible device over the terminal and then authenticates via Touch ID (a fingerprint identity sensor) and a passcode. A subtle vibration or beep confirms the payment information has been sent and a “done” message is displayed on the screen.
- Is Apple Pay secure?
Apple Pay’s two factor authentication makes it a very secure way to pay. Every transaction requires Touch ID authentication and a passcode. Additionally, Apple Pay assigns a unique number for each transaction so the actual payment data remains private and secure.
- How do I start accepting Apple Pay?
Apple Pay works via NFC/Contactless technology and therefore works with contactless POS terminals. This is great news for merchants who already have these terminals and are already accepting contactless payments. They should be able to accept Apple Pay for the same card brands and networks.
Apple Pay compatible devices from Pivotal Payments include the Ingenico iCT 250, iWL 252 and iWL 255. If you would like to enable Apple Pay on your device or upgrade to one of these, please contact us.
- How do I let my customers know they can pay with Apple Pay?
Letting your customers know that you accept Apple Pay is simple. Prominently display the Apple Pay decal at the cash register or at the entrance to your business. You can obtain official decals for free from Apple, here: Apple Pay Decals.
- What Type of Cards work with Apple Pay?
In Canada, Apple Pay works with Visa, MasterCard, American Express and Interac. The majority of Canadians have access to a debit card and with over 500,000 Interac accepting retail locations from coast to coast, accepting both credit cards and Interac gives you a competitive edge.
It is important to note, however, that merchants will only be able to accept the payment types they have agreed upon with their processor.
- Where can I learn more about Apple Pay?
Visit http://www.apple.com/ca/apple-pay/ for more information.
Consumers are using Apple Pay in grocery stores, boutiques, restaurants, hotels, and so many other places. Don’t miss out on the opportunity to make additional sales with Apple Pay!
Pivotal Payments can help you start accepting Apple Pay today, so contact us for more information.