The Apple Pay success story

Do you know just how many of your customers already have an iPhone in their pocket? The numbers keep growing with each new launch – and with smartphones continuing to top Christmas wish lists all over the world, even more people will soon be carrying an iPhone close to their hearts.

The growth of this premium phone has been nothing short of astonishing. Towards the end of 2015 there were over 75 million iPhone 6 and 6 Plus in use globally. Apple CEO Tim Cook recently revealed sales of 48 million iPhones in the last quarter of 2015 alone1. That was up 22 percent year on year.

It’s enough to make any business a bit green with envy. But that growth isn’t just beneficial for Apple – it’s great news for all businesses who take payments, thanks to the launch of Apple Pay. Apple Pay is the fast, easy and secure way to pay for anyone carrying an iPhone 6, 6 Plus or later model – or wearing an Apple Watch. All your customers have to do is pass their device over your contactless terminal and use the Touch ID to verify the payment.

It’s simple and straightforward to use, and has proven to be a faster alternative than traditional payment methods. As well as speeding up your queues, Apple Pay also boasts great security features. This is because Apple Pay’s technology replicates the same security of a Chip & PIN transaction. There’s also no transaction limits, leaving your customers free to spend how they wish.

The Apple Pay success story

Apple Pay has had a big impact in the US markets. An Apple company spokesperson told Reuters: “We’ve spoken to all of the top 100 merchants in the US, and about half will accept Apple Pay this year, with many more the following year.”2 An early adopter was Whole Foods, the US healthy eating store. Whole Foods spokesman Michael Silverman said: “Our shoppers are really enjoying the speed, convenience and security of Apple Pay.”

It might surprise you to know that Apple Pay is set to be adopted even faster in the UK than in the US, because we’re much further along in the use of contactless payment and near field communication (NFC).3

As a Worldpay customer, you’re perfectly placed to benefit from the predicted growth in Apple Pay over the coming months. Our latest contactless terminals have even been designed with Apple Pay in mind. So find out more about what Apple Pay could do for your business at www.worldpay.com/uk/corporate/apple-pay and www.worldpay.com/uk/corporate/apple-pay/in-store. Or call us on 0845 761 6263  to find out how you can start taking Apple Pay payments.

 

1Apple financial results, 2015

2Source: Reuters, June 2015 www.reuters.com/article/2015/06/06/us-apple-pay-idUSKBN0OL0CM20150606#LrfccFog0S4xujFE.99

3 Source: The Guardian, July 2015 www.theguardian.com/small-business-network/2015/jul/31/small-retailers-apple-pay-mobile-strategy

4 Spending on contactless cards more than trebled over the last year to reach a record £2.32 billion in 2014. The UK Cards Association, data published 06.02.2015