What is Apple Pay?

What does it mean to merchants and their customers?

With the new iPhone® 6 release, Apple® is poised to accelerate the growth of mobile commerce and catalyze the “card-less” environment in an unparalleled manner. It provides a digital “wallet” in the device, in which consumers can store payment options that can be used to ‘tap and pay’ for goods and services. This contactless use of a mobile device to perform payment transactions is facilitated via Near Field Communication (NFC) communications technology. While contactless payments have been around for a while and VizyPay can expertly support them, the ability to use one’s phone to ‘tap and pay’ – particularly at so many merchant locations, with so many payment options – is a brand new development for the marketplace. Consumers will begin utilizing their phones to transact more frequently, and will expect that they can be accepted everywhere. This means we should encourage our Clients to be ready to accept mobile payments – from their new Clover Station™ solution as well, or their contactless terminals.