As a small business owner, footfall is key. That's why you need fast, simple and secure payments with a quick turnaround –Apple Pay and Google Pay are fantastic for this.
It's estimated that last year Apple Pay grew its usage by 65 million people globally, and there were 507 million people with it activated on their iPhones in 2020.
Around 1 billion people were expected to be using mobile payments globally in 2020, a number forecast to increase yearly.
Apple, Google and Samsung Pay all allow consumers limitless contactless spending, providing convenience for shoppers. If merchants don't keep up with mobile contactless payments, customers may opt to shop elsewhere.
They’re a type of contactless payment that enables two devices to communicate with each other if they’re held close together. It’s called near field communication (NFC) and means that if an iPhone, Android or wearable device is held close to a contactless card reader, a transaction can take place.
They use a method called tokenisation to safeguard bank information. A consumer can either take a picture of their credit card and load it onto their iPhone or Android phone or enter their card details in manually.
The process of tokenisation takes place between your mobile phone (Apple, Google, Samsung etc.), your card scheme (Visa, Mastercard etc.) and your issuing bank. The token is generated by your card scheme and then during authorisation, it sends the real card number to your bank to process the payment.
Apple or Google will then send the details to the individual’s card issuing bank. The bank then replaces the details with a series of randomly generated numbers (the token) which is then sent back to Apple or Google, preventing the details from being cloned by fraudsters.
Simply put; speed and security. Mobile contactless payments can be faster to process than chip and PIN payments, which means speedier transactions so you can serve more customers. And because the data is tokenised, they’re secure too.
Plus Apple Pay and Google Pay require facial or fingerprint recognition, or a passcode, making it even more difficult for fraudsters.
The contactless limit for cards is £45 – but, customers using contactless on their smartphones can purchase things at a higher transaction value, as they have an extra layer of security to access their digital wallet. This is often a form of biometrics, such as fingerprints, or facial recognition.
To accept Apple, Google or Samsung Pay, you need to have a contactless card machine. They all work with Visa, Mastercard, American Express, Discover, and most card issuers and payment providers.
All Dojo card machines are set up and ready to accept contactless payments from Apple, Google and Samsung Pay from day one – you don’t have to do a thing to start accepting them.
New to card payments? Want the latest cutting-edge technology, friendly on-hand customer support and competitively low rates? Get started today.
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