Is your Business ready for contactless payment with ‘Apple Pay’?

Last week, after a successful US launch back in October, Apple released their latest innovation in contactless payment across participating retailers in the UK. Extolling the system as “Your Wallet, Without the Wallet”, customers can now make ‘one touch’ purchases securely from their iPhone6 or Apple Watch devices, without the hassle of finding the correct card or remembering those pesky pins.

Quashing concerns of security and privacy, Apple Pay converts the actual credit and debit card numbers to a unique Device Account Number, which is encrypted and stored in the Secure Element, a dedicated chip on the iPhone, iPad or Apple Watch. The Device Account Number and a transaction-specific dynamic security code are then used to process and authenticate the payment. As a result, card information is never shared by Apple with merchants or even transmitted as a part of payment. Furthermore Apple doesn’t store the details of purchases, and only lists the most recent purchases on the device for convenience.

In today’s fast paced world offering preferred payment systems to your customers has never been more important, retail giants such as Costa Coffee, Marks & Spencer, McDonald’s and many more have already rolled out Apple Pay to their stores. To get your business started, simply contact your payment provider who will guide you through the process. Additionally you can download resources and order decals for your shopfront window and till for free from the Apple Pay website.

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