In just a few years, Apple Pay has managed to become one of the biggest payment methods in the world. With a customer base of over half a billion people, the payment method is the preferred choice of a significant customer segment. Customers today expect their favorite websites to offer their required payment methods. Businesses need to support these payment methods to get customer trust and create a smooth payment experience.
This article will provide you insight on Apple Pay and how you can accept apple pay at your business. But before we go deeper into that, let’s learn more about what Apple pay is.
What is Apple Pay?
Apple Pay is a leading payment system designed for smartphone users. The payment methods can be easily set up on Apple devices, including iPads, MacBooks, and iPhones, by linking payment information.
Apple pay can then be used to conveniently purchase things online by selecting the Apple Pay methods and making the payment. The popular payment method is used by customers to make digital payments and is commonly used for in-app purchases and transit fees from Apple users.
How Apple Pay Works?
Apple Pay works by using cutting-edge tokenization technology to protect credit card numbers with advanced security. The payment method is known to protect against fraud and scams by using the tokenization method and creating a safe method mechanism for customers.
Due to the storage of the token instead of actual payment information in the payment wallet during transactions, customer data is protected throughout transactions.
Why Should You Accept Apple Pay at Your Business?
Accepting Apple Pay will open your doors to a ton of additional benefits. Here are some of the biggest reasons why you should get Apple Pay.
Smooth Payment Process
When customers make payments using Apple Pay, the entire process is smooth and frictionless. Compared to conventional cash payments, using the digital wallet makes the entire process significantly faster than alternative options.
A key example of the process is the simplicity of payments for customers. Customers don’t have to worry about checking their credit cards and entering payment details manually every time. They can simply use the Apple Pay wallet to make the payment within seconds because the payment method is stored in the device. This simplicity is further backed by evidence as well.
According to 39% of US customers, complicated payment procedures are the biggest reason behind card abandonment in the United States.
The statistic points to the importance of a simple payment method. Apple Pay users also don’t need to worry about the requirements of 2-factor authentication in payment. This saves a ton of time for customers during the checkout process. For merchants, it can be attractive to accept Apple Pay payments to increase conversion and improve sales.
Secure Payment Processing
The biggest advantage of using Apple Pay is the security of transactions offered by the platform. Apple Pay includes two advanced layers to ensure that every transaction is vetted. Here’s how.
Apple verifies that the customer is authenticating the payment by requiring the Touch ID for every transaction. The advance security mechanism checks the payment for verification that the original owner is making the payment. In the situation where the phone is not with the original owner, the transaction cannot be completed. This increased security is ideal because the Apple Pay app relies on advanced facial recognition and biometric analysis.
As covered before, Tokenization is the primary method of protection when customers use Apple Pay. Customer payment data is replaced with dummy data to prevent interception and scamming attempts during the transaction. Tokenization has been recommended as the best strategy to decrease fraud and create a safe payment environment for customers.
Due to these benefits, Apple Pay is a must-have for any business that is looking to improve conversion and create a safe payment environment.
How to Accept Apple Pay Online for Your Business
Accepting Apple Pay online is the first step in improving your conversion rate and increasing sales. Conventionally, the payment acceptance process is complicated. You have to get dedicated hardware and technicians to set up the system at your website. However, you can simplify the process by doing the following.
- Working With an Experienced Processor – Working with an established payment processor can help you streamline payments and skip a ton of the hassle. Consider working with a leading provider like Oceanpayment to have a smooth experience.
- Optimizing Your Website – Marketing the Apple Pay feature on your website can be a great way to attract new customers and improve customer trust. Optimize your website to include the Apple Pay acceptance button and activate Apple Pay on your website with the given instructions.
- Connect Apple Pay – To become a eCommerce store that accepts apple pay, the final step is to activate the payment platform and make the payments go live. To know more about the process, consult with a trusted provider or simply consult with your existing website manager.
By following these simple steps, you will be able to receive robust payments on your eCommerce store without having to deal with the hassle of manual payments. Apple Pay also offers additional incentives by not charging any merchant fees on both in-person and online payments. So, you can start offering the option to customers without forfeiting any fee.
Accepting Apple Pay opens up your door to rapid business growth. Due to the simple installation process, you increase conversion and enhance customer trust. Working with a partner like Oceanpayment further simplifies the process for you by offering a streamlined payment method.
Oceanpayment allows businesses to register as Apple pay merchants and receive payments within days. Our experienced team guides you through the process to give you all the context you need for a seamless experience. We’ve worked with thousands of Global businesses to help them accept payments, and we’d love to do the same for you.
Learn more about the process by visiting our website or reaching out to our experienced agent to have personalized insights.