Apple Pay™ has finally landed in the UK. This is great news for consumers, as it will give them another convenient way to pay for purchases.
It’s good for businesses too, as it represents another way for customers to make quick ‘tap and go’ transactions that do away with the need for cash management.
You don’t want to be left on the back foot because you can’t take contactless payments. Whether you’re a retailer, running a hair salon or taking the bill at a restaurant, the inability to take Apple Pay could disappoint iPhone 6 and Apple Watch users and could lead to you being perceived as old hat.
Consumer adoption of Apple Pay in the US has been impressive, with 42% of iPhone 6 users found to have tried Apply Pay. Of those consumers 98% rated the experience as positive.
In January of 2015, Tim Cook told Mashable.com that “Apple Pay [made] up more than $2 out of $3 spent on purchases using contactless payment across the three major U.S. card networks.” In the US, Apple Pay is growing every day.
While it’s true that the UK is a different market, at the end of 2014 Apple increased its UK market share to a record 42.5%. Based on the size of the UK market and the kind of numbers Apple Pay is delivering in other parts of the world, industry figures are predicting a strong showing for the service in the UK.
In fact, experts believe the UK has the potential to show stronger Apple Pay adoption than the US.
What This Means for Your Business
If you already have the ability to take contactless payments at the POS (point of sale), you don’t need to worry. For example, Clover™ Station is already able to take contactless payments which will include Apple Pay.
If you can’t take Apple Pay at the POS you risk disappointing your customers. With the service only just released, it will carry a novelty factor for a period of time. Consumers will be excited to try out this new way of paying. Failure to deliver this on your part might damage your relationship with that customer.
Once Apple Pay becomes more popular, failure to provide facilities to accept this kind of payment could be seen as an inconvenience to customers. It might also lead to you being seen as behind the times – contactless card payment is now becoming expected rather than being seen as a luxury, a trend that will only continue with the introduction of this new service.
Stay Ahead of the Game
When it comes to your EPOS system, you want to know that you’re prepared for whatever gets thrown at your business.
We provide a range of contactless terminals that are ready to accept Apple Pay. This includes Clover™ Station, a POS system that delivers a business management solution. Driven by cloud-hosted software, Clover empowers merchants thanks to a growing app marketing and gives developers easy access to app building software.
Let’s talk about your business and what Clover can do to help make it more efficient, for Apple Pay customers and everyone else.