With Square, it will be even easier for small businesses to accept Apple Pay payments.
Apple CEO Tim Cook presented the first digits of the launch of Apple Pay in the United States:
- One million credit cards have been enabled on Apple Pay in 72 hours
- The mobile payment system was accepted in more than 200,000 stores or websites at launch
- The Cupertino company has already signed with the six largest credit card issuers (for 83% of credit card transactions in the US)
- But Apple Pay also faces some obstacles, such as competition from a joint venture called MCX preparing its own mobile payment system called CurrentC whose partners (who have about 110,000 stores) have blocked their Apple Pay terminals, because of a deal of exclusivity.
The good news is that as the CEO of MCX revealed later, blocking Apple Pay only last a few months. The idea of this exclusive contract is to enable the system CurrentC some breathing during launch (next year).
The other good news is that we have learned from CNN that the US company plans to support Apple Square Pay (and probably other NFC payments) in 2015.
For those who do not know, Square is a company co-founded by Jack Dorsey (who also co-founded Twitter), whose flagship product is Square Register. It mainly includes an application and a small player that turns a smartphone or tablet into a payment terminal that accepts most of the credit cards.
This offer may be very interesting for small businesses that do not necessarily have the means to buy the equipment (usually) needed to accept payment by credit card. And now we know that this product will also accept NFC payments.
Better yet, a few days ago, the company has (quietly) launched internationally since its application is now available for merchants worldwide. If we interpret all this, one might well think that in a year, small businesses around the world (or rather the countries where mobile payments will be available from Apple) will accept NFC payments with Apple Pay. A very interesting story to follow…
Stephen Karsch is technology geek who loves everything connected with high tech, programming and software.