How To Accept Apple Pay For Business: Steps, Tips, Other Alternatives

Apple Pay is a payment system developed by Apple Inc. It allows customers to make payments with their iPhones, iPads, and Apple Watches. It’s known for being fast, secure, and convenient for customers who prefer using their mobile devices for shopping.

Businesses of all sizes can enjoy offering Apple Pay as an extra payment option. In this article, we will discuss how to accept Apple Pay for vendors and the advantages it brings.

We also discuss how Wise Business offers great ways to both send and receive your payments both in the US and from abroad. Most notably, a one-time fee allows you to receive payments in up to 9+ different currencies without additional costs.

Looking to save when sending and receiving overseas payments?

Get Paid with Wise >>

300k businesses use Wise every quarter
Wise Trustpilot Score: Great ¹
Use Wise account details on Amazon, eBay, Etsy, and more

Table of contents

How To Accept Apple Pay For Small Business Apple Pay Fees For Merchants Is There An Apple Pay POS (Point Of Sale)? Is There An Apple Pay Business Account? Other Important Payment Tools Wise Business PayPal Revolut Square Apple Pay For Small Business FAQ Can Small Business Use Apple Pay? Is Apple Pay Free For Businesses? How Much Does Apple Pay Cost Businesses? What Are The Disadvantages Of Using Apple Pay For A Business? Why Don’t Some Businesses Accept Apple Pay? How Do I Know If My Business Accepts Apple Pay? Does Apple Pay Have A Business Card? How Do My Customers Use Apple Pay At My Small Business? Why Do People Use Apple Pay? Does Apple Pay Charge Businesses A Monthly Fee? Does The IRS Track Apple Pay Transactions For Businesses? Does Apple Pay Have A Spending Limit? Is Apple Pay Worth It For My Small Business? How Can I Let My Customers Know That My Small Business Offers Apple Pay? What Is The Difference Between Apple Pay And Apple Cash?

How To Accept Apple Pay For Small Business

Accepting Apple Pay for merchants with a small business is relatively straightforward(see Apple Pay alternatives). Here are the steps you need to take.

Steps
1. Get A Compatible Terminal – To accept Apple Pay, you first need to buy or rent a contactless payment reader. It must support Apple Pay and other NFC-enabled payments. You can find these readers from many banks, credit card processors, and Point of Sale (POS) systems providers. Be sure to check with your current provider if they offer any compatible terminals before investing. If your business is online, you can simply add a button to your site for Apple users to pay with Apple Pay through your payment service provider.
2. Enable Your Account – Contact the provider who supplied the terminal (or POS system) to enable your account for Apple Pay. Depending on the provider, you may need some more information to complete the process. This could include a merchant ID and bank account details.
3. Link Your Payment Gateway – Once you enable your terminal, link it up with an online payment gateway. Gateways like Stripe or PayPal accept payments from customers who use Apple Pay. This step is necessary if you want to be able to process payments both in-store and online using Apple Pay.
4. Promote Your Acceptance Of Apple Pay - Make sure that customers know you are accepting Apple Pay. Be sure to include this information in all your marketing materials. You can even display a ‘We accept Apple Pay’ sign at the point of sale.

This will help you get started with Apple Pay, but also you can go to other sites, such as the US Chamber of Commerce website for more information.

See the Best Banks for Small Businesses >>

Apple Pay Fees For Merchants

According to the US Chamber of Commerce, there are no merchant fees associated with Apple Pay. In their words:

“Once you have the right contactless payment-capable POS, there are no additional fees you, the merchant, will have to pay for using Apple Pay. As a business owner, you will pay the same credit card rates and fees as you would for a card-present transaction.”²

Is There An Apple Pay POS (Point Of Sale)?

A Point of Sale (POS) system is a combination of software and hardware components. They allow businesses to process payments, track customer data, and manage inventory. A POS system typically includes a

• cash register
• barcode scanner
• payment terminal (for accepting credit cards)
• receipt printer

Apple Pay does have partnerships with POS systems. According to Apple, Stripe and Shopify are both digital POS systems that allow Apple Pay, and many other services do as well. Apple suggests that you contact your payment provider for more information on what they accept.³

As for in-person transactions, you simply need a terminal that accepts contactless payments. You may already have this, so contact your payment service provider to be sure.

Is There An Apple Pay Business Account?

There is no specific Apple Pay Business Account. But Apple does offer a Business Account for small businesses and enterprises. They offer the option to connect with an enterprise expert. ⁴ There, you can discuss the possibilities surrounding adding Apple Pay to your business dealings.

Looking for a low-cost business account?

Try Wise Business >>

Other Important Payment Tools

Perhaps you’ve decided that Apple Pay isn’t for you, or you’d like to explore other options available to your business. Here are a few alternative payment tools your business should consider:

Wise Business

Wise Business is a unique account that lets you receive funds in up to 9+ currencies without any additional costs.

After a one-time fee, you can get access to major currencies such as USD, GBP, EUR, AUD, CAD, and more. Once you've received the funds, you can conveniently spend or send them in the original currency or convert them to numerous other currencies as needed.

Known for its lower rates compared to other services, Wise Business provides not just attractive fees, but also handy features like seamless accounting software integrations and the ability to get paid by link.

Fees
Wise Business is known for its competitive and transparent fee structure.
Getting account details is just a one-time fee of 31 USD, then the fees you pay per transaction are based on the currency involved, starting at 0.43%.
Receiving money in your Wise account in other currencies comes with a nominal fee. Wire payments are also charged at a flat rate of $4.14 per transfer
There are also no monthly fees or minimum balance requirements.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Get Paid with Wise >>

300k businesses use Wise every quarter
Wise Trustpilot Score: Great ¹
Use Wise account details on Amazon, eBay, Etsy, and more

PayPal

PayPal for Business is an “all-in-one payments solution” that uses AI technology to help you make and receive payments. ⁵ They offer solutions for both small businesses and enterprises and they work with POS systems, just like Apple Business and Apple Pay.

Popular features from PayPal for Business include:

• risk management tools
• ecommerce platform integration
• partnerships with other payment services
• access to conversion tools

Revolut

Revolut Business is an international platform for business financing. ⁶ They support more than 25 currencies and over 100 countries for payments. They are a growing network, adding 10,000 new businesses and 130,000 business cards each month.

Popular features from Revolut Business include:

• physical and virtual company debit cards
• localized spending control
• automated expenses

Square

Square is a platform built specifically for businesses. It helps them “work smarter, automate for efficiency, and open up new revenue streams."⁷  They offer their own hardware and POS systems. They also have online solutions for business payments. Square is mainly used by restaurant, beauty, and retail businesses.

Popular features from Square include:

• inventory management
• integrating from POS to your website
• customer data & insights
• advanced data reporting

Apple Pay For Small Business FAQ

Still looking for help? Here are some answers to the most common questions small business owners have about using Apple Pay.

Can Small Business Use Apple Pay?

Yes, small businesses can use Apple Pay. As long as you have

• a payment terminal that accepts contactless payments in person

  OR

• a payment processing system that accepts Apple Pay on your website

you can easily start allowing your small business customers to use Apple Pay.

Is Apple Pay Free For Businesses?

Yes, Apple Pay is free for businesses to use. But you may have to pay extra fees related to setting up the service on your payment terminal or payment processing service. You will also have to pay the standard fees associated with credit card transactions. This cost depends on the cards that are used by your customers through Apple Pay.

How Much Does Apple Pay Cost Businesses?

Apple Pay only costs businesses as much as a typical credit card transaction costs. You may also have to pay a one-time cost for setting up your payment processing systems to accept Apple Pay.

What Are The Disadvantages Of Using Apple Pay For A Business?

Although Apple Pay is a great way to make payments for customers, there are some potential disadvantages to consider. First of all, it requires additional hardware and software that can be expensive to install and maintain.

Additionally, there is no guarantee that your customers will use this payment option. This is because not everyone has an iPhone or other Apple device. Finally, you may have difficulty integrating Apple Pay with existing payment systems.

Why Don’t Some Businesses Accept Apple Pay?

Many businesses are hesitant to accept Apple Pay due to the cost associated with setting it up. There is also the difficulty of integrating it into their existing payment system. It can even be difficult for some businesses to stay up-to-date with all the changes that occur in the Apple Pay system. This leads them to avoid offering it as a payment option.

For small businesses, these costs are especially difficult to bear. But they are mainly one-time costs that will be worth it in the long run. This is especially true because it could bring in more customers who would otherwise not shop at your store.

How Do I Know If My Business Accepts Apple Pay?

The best way to be certain of whether your business accepts Apple Pay is by contacting your payment service provider. In-person businesses that accept Apple Pay usually have payment terminals that can accept contactless payments. In other words, users can tap their cards or phones on the terminal and it will accept the payment.

Online businesses are usually given the option of installing Apple Pay payment buttons on their site. These are offered by their payment service provider. They offer these from a variety of payment services, such as credit cards, debit cards, PayPal, and more. Now, many of these providers also give the option of using Apple Pay. Check with your provider or your website coding to see if this is possible.

Does Apple Pay Have A Business Card?

Currently, Apple Pay does not offer a business card. They are a partner with other payment providers and don’t offer payment cards themselves. You can check with your card provider of choice to make a business card and upload it to your Apple Wallet.

How Do My Customers Use Apple Pay At My Small Business?

First, you must have the necessary card terminal set up. Then customers can pay for their purchases by simply holding their iPhone, iPad, or other Apple device near the reader or tapping them against it. For online purchases, customers can use Apple Pay in Safari on their devices.

Why Do People Use Apple Pay?

Apple Pay is a popular payment method due to its security, speed, and convenience. It uses the latest technologies such as Face ID, Touch ID, or passcodes for authentication. The transaction is processed quickly with no need to enter card details manually. Apple Pay also offers customers additional features such as setting up recurring payments and tracking recent transactions in their Apple Wallet app.

Does Apple Pay Charge Businesses A Monthly Fee?

No, Apple does not charge businesses a monthly fee for using Apple Pay. However, depending on your payment processor, there may be additional fees or setup costs involved in accepting this form of payment. It’s important to do your research and find out what the charges are before setting up an account with a payment processor that supports Apple Pay.

Does The IRS Track Apple Pay Transactions For Businesses?

Yes, the IRS does track Apple Pay transactions for businesses. The IRS requires that all payments made through Apple Pay be reported and have accurate information about the merchant, customer, and transaction. This ensures that merchants are properly reporting their income and paying any taxes due.⁸

Does Apple Pay Have A Spending Limit?

Apple Pay abides by the same rules as the cards it supports. So no, there is no spending limit for Apple Pay specifically. But you will have to follow the spending limit of the credit or debit card you are using through Apple Pay.

Is Apple Pay Worth It For My Small Business?

Yes, Apple Pay is worth it for small businesses. Accepting payments through Apple Pay can help you attract more customers and increase sales. It’s also quick and secure, so you don’t have to worry about fraudulent transactions or lost cards.

Additionally, offering Apple Pay is a great way to show your business is up-to-date with the latest technology and trends. This sometimes makes customers more inclined to use your services. It’s especially great for in-person businesses because customers can pay you for your goods and services even if they forget their wallet at home.

Apple Pay is also great for small businesses because it is more secure than other payment options. This means that even if you may not be a well-known business or you’re just starting customers will feel safe paying you through Apple Pay.

How Can I Let My Customers Know That My Small Business Offers Apple Pay?

If you have a website or an app, adding the Apple Pay logo to any payment page will help customers recognize and trust your checkout process. You can also advertise the fact that you accept Apple Pay on social media platforms or in-store signage. Some stores put stickers with the Apple Pay logo on their door or their payment terminal to make sure their customers know they accept it as a form of payment.

What Is The Difference Between Apple Pay And Apple Cash?

Apple Pay is a payment system that allows customers to make payments with their Apple devices. It works with credit cards, debit cards, and other payment methods (like PayPal) linked to an Apple ID.

Apple Cash is a digital wallet service that allows users to store money on their Apple devices for future purchases or transfers.⁹ Apple Cash is typically not accepted by merchants and is mainly for interpersonal transactions.

The two services are separate but can be used together if you have both enabled on your device.

Learn More:

Helcim Review: What Is Helcim? Services | Pricing | Customers

---

Sources:

1. Wise - Trustpilot
2. US Chamber of Commerce - Accepting Apple Pay
3. Apple - Contactless Payments
4. Apple - Business
5. PayPal Business
6. Revolut Business
7. Square Website
8. IRS - Pay Taxes by Debit/Credit Card
9. Apple - Apple Cash