How Apple Pay Wants to Change the Payments Industry?

How Apple Pay Wants to Change the Payments Industry?

Apple, in recent years, has developed a reputation as being a technology giant and consumer friendly company. In developing new devices and services, they strive to innovate and compete in one of the world’s most difficult economic categories, and demand is high. Their approach to advancing credit card processing is no different.

Consumers are accustomed to paying for their purchases with their credit cards, whether it Visa, MasterCard, etc. PayPal started working with businesses by allowing merchant accounts to be accessed via e-mail address, a fast and effective way to complete a purchase through the internet. Apple is taking the check-out line to new levels by introducing Apple Pay, a revolutionary app that allows consumers to use their smart phones to pay at the register. It works with existing credit lines (so far with American Express), and completes purchases with the touch of a button. With Apple Pay, shoppers no longer have to swipe their credit cards, or worry about high levels of identity theft, as Apple Pay secures identity based on the account holders finger print. This feature ensures personal security by eliminating the need to carry a physical credit card, and instead of a signature, a fingerprint is 100% unique to the individual.

The idea behind mobile payments working effectively is relatively simple. Most modern day smart phones contain technology known as “near field communication,” or NFC. This is the technology that allows apps like Apple Pay to work. NFC is a proximity based feature that allows financial information to flow between two mobile devices that are close together.

From a business owner’s standpoint, this new wave of credit card processing is fast and cost effective. By adding Apple Pay to the traditional point of sale system, businesses will be able to expand their consumer base and safely process transactions more effectively.

The market for mobile device payments is expanding, and economists are predicting this trend to grow steadily in the near future, allowing for the consumer to have a faster and safer shopping experience than in past years with traditional forms of credit card processing.

Payment Processing for the Tour Guide Industry

When running a tour guide company, one needs to choose a payment processing provider offering impeccable service and an excellent and user-friendly product. Otherwise, a busy entrepreneur will miss out on running his or her business in an efficient manner. With this in mind, here are four things a tour guide company owner needs to ponder when choosing a payment service provider.


When accepting payments from clients, one can’t commit any errors, especially for high-dollar transactions. If the payment fails to go through for any reason, a client is likely to head elsewhere. To test this out, read reviews and pay attention to ones where people discuss reliability. Otherwise, when the credit card processing accounts work sporadically, a tour guide company will struggle to bring in revenue.


In the tour guide industry, an entrepreneur will need to accept payments from all over the world. While true, it’s not something everyone thinks about when choosing a merchant account provider. Since banking regulations are complicated and difficult to understand, it’s wise to choose a payment processing firm specializing in international transactions. When choosing a reliable provider with international experience, one will save time and avoid common headaches facing other tour guide operators.


Let’s face it, when accepting credit card payments, it’s hard to control costs as providers set their rates. One way to avoid overpaying is to look at prices carefully and choose a company with low fees. One needs to look at more than transaction fees as providers often charge for statements, tech support calls and other costs. Since these add up quickly, it’s wise to verify all costs before proceeding.

Customer service:

It’s imperative to choose a merchant account provider with excellent customer service. A tour guide operator will not want to waste his or her day on the phone dealing with a minor issue. No, he or she wants to run a business and bring in clients. For this reason, when looking at providers, one needs to ask them if they offer multiple choices for tech support as one minor problem can quickly grow out of control and cost the business owner plenty of revenue.

When choosing a credit card processing firm, one needs to ask questions and ensure the provider offers excellent service, low prices and a reliable product.

How The Payment Processing Industry Will Change in the Coming Years?

Several years ago, businesses only took payments from customers in the form of cash or a check. Some companies wouldn’t even take checks in the fear that they may not go through due to the customers not having enough funds available. Now, technology has changed making it possible for customers to take other forms of payments in order for them to go through faster. They are guaranteed the funds immediately with the use of a merchant account.

A merchant account is used for businesses to accept credit cards. Credit cards can be given to the customers in many forms. A customer may receive an unsecured credit card, a secured credit card, pre-paid cards, or even a debit card linked to their checking account. All of the cards will have major credit card logos on them. Those logos can include Visa, MasterCard, Discover, or American Express.

Businesses do not have to accept all major credit cards. They can only accept the ones that they are willing to pay fees for. Each type of major credit card will have a fee that is charged to the business each time they run a transaction. The fee will be based on the merchant account they choose to go with. They must look at the fine print of the merchant account agreement in order to know what the fees are going to be. Usually, when a credit card is charged, the fee will be a set amount plus a percentage of the transaction amount that is being processed.

Businesses will be open to more opportunities to sell their services or products online. This will open them up to more potential sales, and they can sell in more areas besides the location they are located at. As soon as the customer submits their payment information, they will be able to know if their payment will be accepted or denied in a matter of seconds. If the payment is declined, the customer will have to find another form of payment in order to make the transaction. This helps businesses by ensuring that they will receive all funds that are due to them.

Credit card payments can be taken online, at the location, or even on-the-go for businesses that do work all over. Businesses such as towing companies, food trucks, door-to-door salesman, and many others will be able to take credit card payments with a device hooked-up to their smartphone. This will help expand their business and keep the employees from having to carry around large amounts of cash.



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