Business InformationPayment Processing

What is Apple Pay?

By January 24, 2019 April 24th, 2020 No Comments

Why Should Businesses Accept Apple Pay?

Apple Pay is one of the latest, innovative ways of payment acceptance. One of the main reasons to accept Apple Pay is for the customer. Providing your customers with another easy payment option helps make their shopping experience simpler. Check to see if Apple Pay is available for your processing machine. Ask your merchant processing company who provided your business with its terminal or POS system if Apple Pay is enabled.

Apple Pay is a method that Apple iPhone users can pay for items through their actual iPhone. To explain the process in simpler terms, the iPhone acts as the credit card. This eliminates the hassle of digging through your wallet or purse to find a credit card.

A transaction processed through Apple Pay is processed as a card present transaction, opposed to a card not present transaction. There is no change in the true interchange cost as far as the difference between the card present versus card not present transactions.

Apple Pay is enabled on every VX520 terminal that MAX Payment Solutions loans to a merchant. Meaning, if you would like to accept Apple Pay, it does not cost your business anything. Apple Pay does not add an additional cost to process or charge a fee, which makes the payment process easier for your customers. The old saying of “the customer comes first,” still holds true. Implement Apple Pay and advise your customers that you accept it; it is an added convenience for them.