If you are unaware of the newest way of paying for your items at the store, it is Apple Pay. Apple Pay works like this, if your bank is partnered with Apple Pay and you have the newest version of iOS, you can add your credit or debit card to your phone. Once you card is linked to your phone you can make a wireless payment when buying something from a brick-and-mortar store.
Sensors that are eligible for Apple Pay will automatically turn on when your phone is within range of a card swiper. This simple way to pay for items is becoming very popular at many big-name stores and it is becoming a new way for small business owners to set themselves apart from the competition.
The following list of big name stores are currently partnered with Apple Pay:
American Eagle Outfitters
Babies ‘R’ Us
BJ’s Wholesale Club
Chevron and Texaco, including retail stores like ExtraMile
The Disney Store
Foot Locker, including Kids Foot Locker, Lady Foot Locker, House of Hoops, and Run by Foot Locker
Petco and Unleashed by Petco
Save Mart Supermarkets
Select kiosks, vending machines, and self-pay stations (in partnership with USA Technologies)
Toys ‘R’ Us
Whole Foods Market
Now you are wondering, how does apple pay effect my small business? Well, it’s simple. Many small businesses may be hopping on board with Apple Pay and adapting the technology so they can keep up with big box retailers. In order to adopt Apple Pay, businesses will need to purchase N.F.C. payment terminals. Small businesses could purchase these for $300 to $500.
Apple Pay can benefit a small business through increased security and privacy for your customers. Taking mobile payments could also provide you with an edge on your competition and offer customers a new way to pay for their items. Most importantly, Apple Pay simply offers customers an easy way to pay. No wallet is required making it a more easy and streamlined checkout process.