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Apple Pay is a mobile wallet that takes advantage of NFC (Near-Field-Communication) technology, also known as "Tap & Pay".

It allows consumers with iPhones to "load" their various credit cards into their phone. When ready to make a purchase, they open the wallet app and tap their phone against the credit card reader.

What are the benefits of using Apple Pay?

  • Apple pay provides a new-age payment experience through:
  • Speed and convenience of payment – Don’t have to pull your wallet out of your pocket
  • You don’t share your credit card number with the retailer so if compromised, your payment information won’t be at risk
  • Payment is encrypted

Are there limitations?

There are some limitations with Apple Pay:

  • It only works on the newest Apple devices (no iPhone 5, no Androids)
  • Not all US issuing banks support it (although over 85% do)
  • Tap & Pay transactions are usually limited at around $100
  • How much does it cost to accept Apple Pay?

Transactions are handled using the traditional interchange rates associated with the customer's credit card. There are no additional fees to the merchant.

How do I accept Apple Pay?

As a merchant, all you need is a terminal that supports NFC. Most of Helcim's terminals now support near-field payments, and merchants are able to automatically accept Apple Pay through these terminals. Transactions work the same way as exiting Tap & Pay cards such as Mastercard's PayPass and Visa's PayWave. There is no need for any special request when you open your Helcim merchant account. As long as your terminal supports NFC, your business will be able to accept Apple Pay transactions.

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