Apple Pay is becoming the primary payment choice for consumers. With advancements of technologies, payment solutions are also progressing and if you have an eCommerce business, it is in your best interest to read further.
Apple Pay Takes Leadership
By 2020, it’s theorized that Apple Pay will account for half of mobile wallet users worldwide. If this turns to be true, having Apple Pay technology could be vital for the future success of a business. Apple isn’t the first company in the market to explore the contactless payment. Anything Apple introduces to its consumers market tend to conform to be either innovators of the trend or early adopters. Evidently, this particular feature challenges all competitors alike blooming contactless payments. Will Apple Pay live up to the hype? Most importantly, will investing in this payment solution benefit businesses in the long run?
Great Security Features
Apple Pay is very secure and safe to use compared to debit/credit cards or cash. Offering layers of security features to ensure the customer’s information is protected. The encrypted NFC technology used for Apple Pay safely connects to the register, which then generates a unique code for each transaction. How does this affect businesses? Businesses need to keep with trends especially when accepting any form of payment to ensure they don’t lose any customers. Business competition is only fresh if businesses stay competitive. This means looking further ahead to future trends and tap into their key markets.
Apple Pay’s Utility
Apple Pay has made partnerships with large corporations such as Target, Uber, and Groupon. It also developed connections with credit card companies and thousands of merchants around the world. If smaller businesses don’t transition to competition this could be the reason for falling behind. One major benefit is that small businesses can integrate new technology quicker than large corporations. This means businesses that dive into Apple Pay early can reap the benefits, while larger companies transition to keep up.
Always Stay Ahead
Think of this, imagine a small business in the 1960’s right before credit cards were commonly used. A small business owner might not be able to imagine a world where people use a piece of plastic rather than cash. However, fast-forward decade’s later, credit and debit cards have taken over cash payments across all industries. It’s rare to come across a “cash-only” business that is still surviving today. That business owner from the 1960’s likely wouldn’t have continued to be successful through the oncoming years. Yet, its competitors who transition their acceptable means of payment instruments are still around today. By factoring modern business predictions, Apple Pay is the next revolution of payment processing.
Apple Pay’s Simplicity
For a business to continue to thrive, improving/updating point of sale systems is key. Today, most customers want faster and more seamless payment options. A slow or clunky point of sale can leave a bad experience or a customer to walk out of line, even if they liked everything else! Apple Pay is a streamlined process for their accessibility throughout their products such as Apple Watch or iPhone. With just one touch businesses can manage different types of payment methods. Meaning people who are not registered to Apple Pay can still transact. This seamless approach will alleviate the stress and burden for the business and improve the experience for the customer.
Dynamic Merchant Solutions
Dynamic Merchant Solutions is an established payment processing company. We can help your business accept credit card payments anywhere and anytime. Dynamic Merchant Solutions offer different payment solutions like point of sale, virtual terminal, credit card machines and online reporting. We cater to small and large businesses in industries such as retail, hospitality, services, and e-commerce.
Contact us today to find out more about the future of business transactions with Dynamic Merchant Solutions!