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Square encourages Apple Pay payments with processing credit

Square encourages Apple Pay payments with processing credit

Square partnered with Apple for a promotion when customers use Apple Pay. Starting today, Square merchants won’t pay any processing fee for the first $12,000 in Apple Pay transactions — that represents around $350 in fees.

In addition to this promotion, sellers can also get a free marketing kit with Apple Pay stickers and training materials to tell employees how Apple Pay works. You’ll need Square’s chip credit card reader that also support contactless payments, such as Apple Pay and Android Pay.

In the press release, Square Hardware Lead Jesse Dorogusker says that Apple is involved with this partnership. “Anything we can do to make a seller’s experience faster and safer, including working with Apple to encourage Apple Pay usage, is an investment worth making,” Dorogusker said.

It’s unclear if Apple reduced Apple Pay’s fees for Square merchants in order to drive more Apple Pay purchases. Maybe Square also noticed that there’s less fraud with Apple Pay purchases — this way, Square could save money.

While Apple Pay has been around for a while, many people still don’t know how to use it. After you realize that you can trigger Apple Pay by double tapping on the home button when your phone is locked, it becomes clear that it’s easier than paying with your credit card.

Square has already tried educating merchants and customers about Apple Pay in Portland. After the company’s campaign, contactless payments, such as Apple Pay payments, tripled.

It’s interesting to see that Apple can be more aggressive about Apple Pay with partnerships such as today’s program with Square. While it’s hard to change habits, I hope I’ll be able to leave my wallet at home at some point.

(Why?)
Published at Mon, 30 Jan 2017 16:01:37 +0000

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