Square promises $350 in waived fees to boost Apple Pay adoption
Apple and Square on Monday announced a partnership which will let U.S. businesses process over $12,000 in Apple Pay transactions for free, saving up to $350 in Square costs so long as merchants set up a marketing kit designed to promote Apple's platform.
The $350 becomes available in credit once a merchant sets up the kit, which includes things like a "table tent" and a matching base that sits under Square's chip and wireless reader. Square noted that the reader itself is being discounted to $29 "for a limited time."
To prove they've set everything up, merchants must take a photo of their countertop and submit it to Square through their dashboard.
The kit also includes worker training materials, designed to teach staff about how Apple Pay functions.
Square has supported Apple Pay since Nov. 2015, bolstering options for independent businesses wanting compatibility with the technology. The new efforts suggest that Apple and/or Square want to ramp up support by small businesses, which still often rely on conventional card/chip readers given the potential costs of setting up an NFC-ready sales terminal.
In the U.S., most stores and services accepting Apple Pay still belong to large chains, such as Chik-fil-A and Walgreens. The situation is more complex overseas, since some countries -- like Japan -- have better infrastructure for wireless payments.
Expansion is continuing both domestically and abroad, but often through new card issuers rather than vendors.
The $350 becomes available in credit once a merchant sets up the kit, which includes things like a "table tent" and a matching base that sits under Square's chip and wireless reader. Square noted that the reader itself is being discounted to $29 "for a limited time."
To prove they've set everything up, merchants must take a photo of their countertop and submit it to Square through their dashboard.
The kit also includes worker training materials, designed to teach staff about how Apple Pay functions.
Square has supported Apple Pay since Nov. 2015, bolstering options for independent businesses wanting compatibility with the technology. The new efforts suggest that Apple and/or Square want to ramp up support by small businesses, which still often rely on conventional card/chip readers given the potential costs of setting up an NFC-ready sales terminal.
In the U.S., most stores and services accepting Apple Pay still belong to large chains, such as Chik-fil-A and Walgreens. The situation is more complex overseas, since some countries -- like Japan -- have better infrastructure for wireless payments.
Expansion is continuing both domestically and abroad, but often through new card issuers rather than vendors.
Comments
This is great news for ApplePay and I hope it gains more attention.
The more that people express a wish to use their smartphone for purchases the more likely that you'll see Apple Pay be more widely accepted, and yeah along with Android Pay but so what. The chicken & egg argument comes in then but who should care about that either? Remember rising tides lift all boats.
When they went public, the share price valued the company higher than some of its competitors who had actually already figured out how to make a profit, and the share price is slightly higher now.
Apple may be waiting until they run out of money and go bust, at which point they could pick up whatever parts they wanted more cheaply.
This should also help with the issue of Square merchants disabling the contactless reader to avoid having to use the chip (which is included in the reader).
A few threads ago, you chastised a poster for bringing Google into an Apple-related thread. You said that the thread would unnecessarily be derailed.
It's funny how you ignore your own advice and derail this thread with your Android nonsense.
"Do as I say, not do as I do" indeed.
One of the major things holding it back since it was introduced well over two years ago. September of 2014 (wow time flies) is a lack of places to use it. Outside of major retailers, and many of them didn't buy in right off ( and some still don't) there weren't many places to pay with it. The initial excitement quickly wore off for a lot of potential users and they became resigned to still pulling out their wallets.
So without users now frequently voicing a desire to use it at their local market or retailer there is little reason for them to invest in the equipment to make it possible for iPhone owners to use ApplePay. I doubt anyone here thought it would move so slowly when it rolled out. Resorting to essentially a $350 bribe to help it along is a good but fairly costly step tho one that Apple can easily afford to assist with in partnering with Square.
But now put an equal number of Android Pay users in the mix asking the person behind the counter "Do you take Android Pay?" That shows local businesses there's a broad segment of shoppers who really want to use it, nd wider and faster adoption of smartphone payments really picks up with louder demand for it.
.... And that sir pushes Apple Pay forward faster and more successfully than without it. ApplePay and Android Pay are not competitors. No one is leaving either OS just to use the others payment solution and neither one is cross-platform are they?
So that's my opinion anyway. Mentioning Android Pay is not a distraction, or at least shouldn't be. It's intertwined with the problem of slower than expected smartpay adoption, and yes is holding back Apple Pay from being what it should. As more people demand to use their smartphone payment service the better for ApplePay overall.
The same will happen in the US, as more contactless cards come into play. That is more likely than Android Pay to increase the desire of merchants to install and enable this functionality. And also get the process down where a signature isn't requested as well (I have heard of this in US, and have seen it once myself when traveling). Here in Canada, up to $100, you simple "tap & go" - nothing further required.
https://www.nfcworld.com/2016/05/31/345159/survey-reports-use-apple-pay-android-pay-samsung-pay-us/
ApplePay will gain because they sign up many more issuer banks in US. They get a cut from the banks to support ApplePay.
Their banking infrastructure behind the scene also becomes more entrenched. In this arrangement, Square would market ApplePay upfront.
Merchants gain by having better security, customer service, and protection.
ApplePay users gain by having more merchants participate.
With more overseas expansion like in Taiwan, it would imply Apple's global banking footprint has expanded even more.