What Apple Pay Means For Your Business

August 31, 2016

apple-pay-business-canada

With the expansion of Apple Pay® this spring to include support from most major Canadian banks, now is the time to learn more about Apple’s mobile payment service and what it means for your business. Since one-third of Canadian smartphone users own an iPhone, the chances are that some of your customers are looking to use Apple Pay at your business. Here’s what you need to know so you’re prepared for when that happens.

 

What is Apple Pay?

Apple Pay is a mobile wallet service that allows customers with select Apple devices (currently iPhone® 6 or higher, iPad Air® 2, iPad Mini®, Apple Watch®), to make an in store purchase by tapping their phone, tablet or watch on a payment terminal’s contactless sensor. If you think the ease of Apple Pay stops there, Apple surprises us once again. There is also an in-app payments feature that lets customers make purchases within mobile applications quickly and securely with the touch of a button.

 

Setup in Minutes

The good news for businesses operating in store is that there is little to no preparation needed to accept Apple Pay. If you have a Moneris® terminal that accepts contactless payments, your business is Apple Pay ready today. To complete an Apple Pay transaction, simply follow the terminal’s screen prompts as normal. With the transaction completed in seconds, customers walk away with their purchases faster and lineups are shortened at the checkout.

 

Exposure Through Apple

Businesses that accept Apple Pay could also benefit from marketing exposure on the iOS platform. By verifying your business information in Apple Maps Connect, your business listing will be included within Apple Maps for added visibility.

 

Canadians are Using Apple Pay

Today’s customers are equipped with new tools and technology for making the buying process faster and more seamless than ever before. Apple Pay has the potential to lead the pack, offering a convenient method for customers to pay and for businesses to accept. Not only that, the contactless technology behind Apple Pay is gaining in popularity with Canadians. Contactless transactions now account for 25 per cent of all Moneris transactions with Canadians also spending more per tap – the average contactless transaction increased by seven dollars from 2015.

 

Placing an Apple Pay decal in your storefront tells customers that you can accommodate their evolving payment needs. You can find out more about Apple Pay by reading 6 Reasons Why Apple Pay Make Sense for Canadian Retailers and Get Your Small Business Ready for Apple Pay.

To find out if your terminal is contactless-capable or to have the feature turned on, give us a call at 1-866-319-7450.

 

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. ®MONERIS is a registered trade-mark of Moneris Solutions Corporation. All other marks or registered trade-marks are the property of their respective owners. Apple Pay, Apple Watch, iPad Air, iPad Mini and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries.

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