Apple Pay has officially landed on UK soil and is set to fundamentally change shopping habits as we know it. The contactless iPhone payment system enables shoppers to pay for items using just their iPhone 6, 6 plus or Apple Watch.
The limited spend of up to £20 is similar to that of contactless cards. However, unlike the use of contactless cards, Apple Pay has an extra level of security. The system does not use any debit or credit cards details, but generates a unique device account number that relates specifically to that transaction known as ‘Tokenization’. The user is also able to authorise the sale through the integrated Touch ID on their Apple device (finger print recognition).
Retailers such as Nando’s, Boots, Costa and Starbucks are already using Apple Pay as a method of payment and are leading the way in early adoption of this new technology.
To keep up with the growing trend of contactless payment and other emerging technologies in the retail sector, businesses now need to consider integrating relevant systems and software to support these developments. Keeping ahead of the curve in respect of developments within this area can be a costly consideration however. Investment in standalone EPoS units can cost anything upwards of £2,000 with more sophisticated solutions such as stock control, order processing, CRM and Cloud based technologies potentially running into tens of thousands of pounds.
LDF understand that implementing EPoS systems into a business infrastructure can be a considerable cost. We are able to provide solutions to assist in spreading the cost of this necessary expenditure over a typical 3 – 5 year term, with options to upgrade equipment as required.
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