Apple has struck a new partnership with PayAnywhere, a POS solution provider that serves more than 300,000 locations around the United States. As part of the partnership, the latest version of the PayAnywhere card reader will also be sold in all Apple Stores.
What Brands Should Do
This new partnership undoubtedly broadens Apple Pay’s reach, which in turn could only help the mass adoption of Apple’s mobile payment. For brands, especially those in retail, this means now is the time to start incorporating your existing reward and loyalty programs into point of sale systems, offering your customer a frictionless shopping experience. To promote Apple Pay usage, PayAnywhere is also offering merchants $5,000 worth of free Apple Pay transaction processing, something that SMBs and independent merchants could take advantage of.
Mobile payment platform and POS device maker Square is looking to speed up adoption rate of the new EMV chip-and-PIN terminals, promising to cover any faulty charges if the business has already pre-ordered its latest card reader, set to ship this fall. While obviously hoping to convert some businesses to Square’s platform in the process, this offer could help some small and medium-sized businesses (SMBs) to have a smooth transition to the new POS terminals.
What Brands Should Do
For security purposes, businesses that are still using the old magnetic swipe-and-sign system are mandated to upgrade to the new chip-and-PIN EMV payment system by October. For retail brands and small business owners that haven’t been aware of this imminent change, now would be time to make the switch, and try out the benefits digital POS terminals can bring, in terms of improved security, convenience, as well as consumer data some of the digital POS platforms can gather.
Source: Ars Technica
NCR, a POS provider for major retailers and restaurants is incorporating PayPal into their mobile app solution at checkout. The partnership will eventually enable these payments at select NCR locations through the PayPal app as well. PayPal has been a pioneer in eCommerce and looks to be competing with Square for dominance in the mobile payment space.
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