November 18, 2014
Apple pay has already had a good enough start. There are some companies who partnered with them and are already seeing positive effects from their relationship. So we present to you a synopsis for each player:
First Data’s support of Apple Pay marks another milestone in First Data’s transformation from a payments processor to a solutions provider. First Data’s support of Apple Pay allows businesses and their app developers to go to market quickly with powerful new apps allowing payment with a single touch. With the integration of Apple Pay into First Data’s STAR Network, First Data can also showcase itself as a Token Service Provider. Apple Pay is also acting as a complement to First Data’s point-of-sale transformation which it started through its Clover Station. First Data believes that Apple Pay and Clover would make a winning combination.
Apple Pay has initiated a new wave of POS upgrades to support NFC. VeriFone, which already has 60% share of retail payment terminals in the U.S., is getting a boost from this. Apple Pay is helping VeriFone increase its sales of newer terminals that support NFC and thus Apple Pay as well.
McDonald’s has witnessed a rush by customers wanting to give Apple Pay technology a try. McDonald’s noted that an impressive 50% of its tap-to-pay transactions, since the release of iOS 8.1, came from Apple Pay. McDonald’s accepts Apple Pay across all of its 14,000 restaurants in U.S.
As per estimates by Mike Dudas, co-founder and CRO of Button, Apple Pay represented around 1% of all Whole Foods transactions in past 17 days since Apple Pay’s launch on October 20th. As per the new estimates, 150,000 transactions were made via Apple pay which accounts for 0.91% of all transactions at their stores in the 17 day period.
As per a Walgreens executive, in-store traffic at the chain has doubled since their integration with Apple Pay. Walgreens has also integrated its loyalty program with Passbook and has seen its position jump from 66 to 8 in the app store rankings.
It is one of the 7 highly recommended payment partners that Apple has cited. The deal with Apple is giving more exposure to Stripe APIs. Apple Pay is giving Stripe a head start in the market. App developers using the Stripe system are also benefiting from this. Some apps that are positively impacted by Apple Pay + Stripe are:
It is amongst the 7 highly recommended payment partners as cited by Apple. Braintree is using its v.zero SDK to give its merchants the ability to integrate Apple Pay into their respective apps. With Apple Pay and v.zero SDK, merchants that are benefiting include: HotelTonight, Houzz, Airbnb, Eventbrite, StubHub, JackThreads, Jane.com and VenueNext.
It is yet another one of the 7 highly recommended payment partners as cited by Apple. The Apple Pay platform is giving TSYS the opportunity to showcase its Enterprise Tokenization to issuers and retailers. This further provides TSYS the opportunity to offer software development kits and application programming interfaces to enable merchants and developers to accept Apple Pay, thereby utilizing TSYS Enterprise Tokenization. Some apps benefiting from this include Pay-at-Table and Order Ahead.