Payment Methods

Square Sellers Can Process Apple Pay Payments Without Paying A Fee

Square, the payment company, announced Monday (Jan. 30) that small businesses in the U.S. will now be able to process more than $12,000 worth of Apple Pay payments without having to pay a fee.

In a press release, Square said small businesses will see $350 worth of savings in Square processing costs by encouraging customers to pay with Apple Pay. Square said sellers can get a free Apple Pay marketing kit with collateral to encourage customers to use their iPhone or Apple Watch, as well as staff training material so that they can educate employees about using and accepting Apple Pay. The credit on processing Apple Pay transactions goes into effect once the seller has set up its countertop display for verification.

Square said a similar education effort to provide sellers with a way to teach consumers about the benefits of using Apple Pay happened last year in Portland, and since then, the percentage of card transactions from contactless payments at Portland Square sellers tripled. According to Square, increased consumer awareness for Apple Pay is also driving adoption at festivals and events. Square pointed to Kanye West’s Life of Pablo pop-up shops for one example.

It said in August there was significant usage of contactless transaction in cities across the U.S., with usage up 28 percent in San Francisco and up 14 percent in both Dallas and Houston. Apple Pay and Square are taking their awareness campaign nationwide to push the industry toward more contactless payments. “It’s no secret that chip cards can be slow, which is why we built our reader to also accept contactless payments, a faster and safer way to pay,” said Jesse Dorogusker, Square’s hardware lead, in the press release. “Anything we can do to make a seller’s experience faster and safer, including working with Apple to encourage Apple Pay usage, is an investment worth making.”


Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The September 2019 AML/KYC Tracker Report provides an in-depth examination of current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

Click to comment


To Top