It is doubly silly for business owners not to be ready for payment with a smartphone / smart watch!

I would not say business owners are dumb. We all do stupid things once in a while. I know I am an expert on this subject. It is fair to say something less than wise to postpone preparing your business to accept payments from existing and potential customers who want to use the new smartphone technology.

Consider these things. Apple ™ will soon be launching Apple Watch ™ which, like the recently launched iPhone 6 ™, is ready for use with Apple Pay ™. How many millions do they sell? Want to look for one? How many people do you see using the new iPhone 6 ™ platform? My guess is a lot! According to the quarterly report, 74.5 MILLION iPhone 6 ™ devices were sold in the last three months of 2014. How many do you think were sold this year with waiting lists in all Apple ™ stores? How many Apple Watch ™ devices are sold when launched in the near future?

Below are some questions I received on the topic along with the answers.

What is Apple Pay ™?

Apple Pay ™ allows its customers to pay with their q18 smartwatch (or soon their watch) to pay for goods and services. It is safe and protected. Each transaction is approved by a pin or fingerprint sensor and generates a unique token. No data or card names are exchanged, making it the safest payment method available today.

How do I accept Apple Pay ™?

Accepting Apple Pay ™ is as simple or easy as accepting a credit card as long as you have the right equipment. (see below).

What equipment do I need?

You need an NFC enabled credit card terminal or point of sale system (yes, both are available). Without this technology, there is no communication path between the smartphone and its payment team.


How much does it cost me?

There are no additional "transaction fees" or "discount rates" for the business owner to accept Apple Pay ™. However, you must have updated NFC equipment. Many sales reps and processors can charge hundreds of dollars to upgrade your equipment. Choose an ethical sales office for a long time, you can get everything from a simple terminal to a complete point of sale system placed free of charge as long as you pay the normal POS service fees.

What is the cost of doing nothing?

When your customers get a new iPhone 6 ™ with Apple Pay ™, they eagerly look for dealers who accept the technology to prove it. It is faster and safer than traditional credit cards. Will you be able to accept your payments or will you have to find a competitor to do so?

Consider these facts from Apple ™ Quarterly Report and the Macworld publication;

Apple Pay is already responsible for 50% of mobile payment purchases at fast food giant McDonald's ™

Apple Pay ™ already works with more than 90% of the most widely used payment cards in the United States.

Consider prioritizing your card processing update to accept Apple Pay ™. With all the devices in the hands of people looking for places to use them, you can increase your sales.