In January, earning call with investor, Apple Inc. (NASDAQ:AAPL) has announced that 2015 will be the year of Apple Pay. Since then, the company is aggressively working on the payment system to make it more successful.
According to the report from Reuters, the company said that they have spoken to top 100 merchants and almost half of them will accept the Apple payment, this year. But, most of the retailers remain skeptical regarding payment system and still, few of them are not accepting the Apple Pay due to the insufficient customer support. In the meanwhile, the accepted retailers were very less and among two-third of the retailers are not ready to accept the payment system this year.
An online survey conducted by Verifone and Wakefield Research, found that mobile wallets were accounted for only 4 percent of the over-all payments in the entire retail transactions in the United States.
In January, Tim Cook said Apple Pay accounted for almost two out of 100 dollars spent in “contactless payments” and it is clear that Apple Pay has made a huge progress in signing up vendors, and more than 700,000 sites have been implemented Apple Pay still now.
The companies that accept Apple Pay reported that, Apple Pay transactions are accounted for 2 percent of its sales and they are enjoying the ultimate speed, convenience and security of the payment system.
Drysdale, Executive Vice-President at payment processor Elavon, which works with Apple mentioned in a statement,
“As long as the retailer is upgrading to the new payment terminals, which are enabled with contactless payment technology, there is very little additional cost to accept Apple Pay,”
Depends upon the technology the retailer using, the variable cost will be charged by the merchants, and allows the users to experience a wonderful experience while they were shopping with Apple Pay.