Apple Pay is an amazing mobile payment system that provides a payment experience that is truly out of this world. We love when a customer needs Apple Pay implemented into their application as we know it’s going to be an exciting project to work on for us. With Apple being the leader in computers for developers, You would assume that probably their payment system would be too? Let’s take moment and review some pros and cons of Apple Pay.
Top Pro of Apple Pay: Simpler, Secure Payments.
- Simpler payments
When a shopper has their credit card stored in their iphone, all they have to do is hold the mobile device near a NFC reader, approve the transaction with their fingerprint using Touch ID and the payment is processed within a few minutes of approval. It really does take less time than swiping your credit card.
With no card being swiped on a reader, you take less chances of your card number being stolen. Apple uses a “device account number” rather than your card number when making purchases using Apple Pay.
- Better experience
Provides more of a personalized experience and automatically selects the default card from Passbook for payments, which can easily be overridden with a swipe. when checking out, Apple being leaders in UI Design it’s no surprise that they excel with a friendly, easy to use checkout experience.
- No extra fees for retailers
They are no extra or hidden fees for retailers or shoppers that pay using Apple Pay. This really does iron out all the nuances of the service with fees and saves money that was worked hard for.
- Mobile app payments
Pay for you’re in app purchases, When it first came out you could only use the system in stores which hardly anyone supported. Apple quickly fixed this and expanded the marketing for mobile app developers.
Top Con of Apple Pay: It hasn’t gained much adoption since it’s October 2014 launch.
- Not much adoption
A recent Info Scout study revealed that only 6% of iPhone 6 and 6 Plus owners have used Apple Pay to make a touch less transaction, while 85% have not tried the service yet.
- It can get expensive to setup
If you a retail store and not have a NFC reader, then the cost can get expensive to setup with POS system that supports it. It’s hard to say what the cost can be as to it depends on the size of your business, if more of your customers have iPhone’s then it may be something to look into.
So in all around, we see that the system does have it’s pro’s and con’s, it comes down to one thing really. Are most of your customer base iPhone 6, 6 Plus users?