How Apple Pay Will Help Your Business
If you had to guess how many pieces of new technology are invented per week, what would you say? Go ahead – Take a guess.
It’s a trick question. We don’t know the answer – and we’re not sure anyone does. That’s how big of a scope we’re looking at here. There is just so much technology currently on the market, and more that’s constantly being developed, it’s hard to keep track of.
It can be tough as a small business owner to decide which pieces of technology to use to help better your business. But, Direct Capital wants to help.
Even though we can’t speak for every piece of technology, there is one out there your business just can’t do without, and that’s Apple Pay.
What is Apple Pay?
This is probably the best place to begin. Apple Pay is an efficient, simple, and hassle-free way for customers to pay for purchases in-store or online. The best part is customers using Apple Pay only need have their phone available.
So, how does it work for your customers? Apple Pay data is stored right on users’ iPhone 6 Passbooks. They input their card information and when they get to the terminal to check out, they simply use the Touch ID feature to pay. (And don’t worry – this is secure for your customers. The Apple website explains this in detail).
And, believe it or not, it isn’t too good to be true. In today’s world, people move quickly and want the most convenient solution. For your business, Apple Pay could be it.
How Apple Pay Will Benefit Your Business
- Secure Payments: 2014 was not a good year for POS systems. Hackers found their way in and stole thousands, if not millions, of people’s information. With Apple Pay, you won’t have to worry about that. Apple Pay is enabled through near field communication (NFC) technology, allowing for contactless communication between devices. Apple has made sure that the information used in Apple Pay is encrypted and will send a unique code each time an order is processed, securing the users’ data from hackers and from your business. You won’t have their name or credit card numbers so you won’t have to worry about losing it.
- Streamlined Checkout: We know we already told you how easy the process will be, but we want you to see just how beneficial that is to you. Entrepreneur writes, “Small business owners should at least prepare for the elevated attention and potential demand typically following new Apple technology releases.” Consumers love technology and they always want to try the newest thing out there. Give them a good experience one time – with a hassle (and wallet) free checkout process – and watch them come back again and again.
- Better Equipped to Compete: Being able to take mobile payments could you apart from your competition if they don’t have that sort of compatibility. Be the company consumers always want to choose.
Setting Up Apple Pay Easier Than You Think
First, determine whether or not your current POS system has a contactless reader. If not, ask your POS system provider if they offer them. Once you know those two facts, you’re one step closer.
Because Apple Pay uses NFC, you need to make your POS systems compatible with that technology. If upgrading your system to include that technology is your next step, then look to Direct Capital to help with financing that purchase.
There’s no need to purchase a POS system outright when you can finance it over time. Plus, you never know when the next technical upgrade will come out, and you want to constantly be updating your system. Financing allows you to do just that.
Have a conversation with your merchant card processor and find out what options you have, then turn to Direct Capital to get the financing process started!
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