As Apple Pay buzzes throughout the payments industry, many merchants are left wondering what affect this will have on their business.
With customers updating their Apple devices to the new iOS 8 and embracing the concept of a virtual wallet, it becomes even more pressing for merchants to find a solution to appease this new phase of payment processing to stay competitive with larger stores, and without hurting their pocket books.
Merchants with limited resources to devote to sourcing payment tools and even less time to implement large scale payment solutions, are cringing at the thought of the Apple Pay customer wanting to make a payment with their smartphone.
As mobile payment processing vendors scramble to play catch up with Apple’s announcement, one application that is shining through the rough is Beanstream’s new mobile application, launching in fall 2014, sproutPOS.
The sproutPOS application and Bluetooth payment terminal make it possible for merchants to collect Apple Pay payments. This is done simply by collecting Near Field Communication (NFC) or contactless payments using the sproutPOS pin pad. Merchants will also be able to process Interac Debit and chip and PIN credit cards.
With new technology innovations comes a fear of the unknown, especially when it comes to preventing customer payment information from being stolen. Be still pattering heart, Beanstream prides themselves on providing a secure environment to collect payments through end-to-end encryption between the payment terminal and bank. What does this mean for you, the merchant? You will never see secure, private customer payment information and it will never be stored on your device.
The quality and functionality of the tools you get in your sproutPOS toolbox will help you to stay innovative and proactive in the payments industry, but without the hefty price tag and overly complicated implementation processes.
The free Beanstream sproutPOS apps will soon be available in the Apple iTunes and Google Play stores. Beanstream EMV SDK is also available for developers who wish to integrate EMV and contactless payment capabilities into their application.
Learn more about Beanstream’s mobile payment processions solutions at beanstream.com/sprout-pos.