Incredible Opportunities Of Integrating Apple Pay In iOS Mobile Apps
Incredible Opportunities Of Integrating Apple Pay In iOS Mobile Apps
Online shopping is a buzz, and in particular, youngsters are hooked to it. A bunch of products and services, quick online and zero-contact payments, and fast deliveries are the drivers of the increasing usage of online shopping applications. On top of all, the flexible payment method is a significant factor for the skyrocketing rise of mobile marketplace apps.
The trend of online shopping has made mobile payments familiar to everyone. Among all the mobile wallets services available today, Apple Pay is the oldest and largest online payment service compatible with iOS devices. We can make payments and do transactions by having Apple Pay on iPhone. Booking.com, Uber, Starbucks, Adidas, and British Airways are a few popular iOS apps that accept Apple Pay payments.
Herein, we give a detailed guide on Apple Pay functionalities and the reasons behind the increasing demand for this mobile wallet in e-commerce or marketplace applications.
What Is Apple Pay?
Apple Pay is the digital wallet service by Apple launched in the year 2014. It is the first mobile wallet service and contributes 34% of the e-wallet market share value. Users can connect their credit cards, debit cards, or bank accounts to send or receive funds. Users can add money to mobile wallets and make payments in physical stores, shopping apps, or sites through Apple Pay.
Apple Pay requires Face ID, Touch ID, or passcode to complete payments in an encrypted manner. It works only on iPhones, Apple Watch, and Mac OS.
Is Apple Pay A Safe & Secure Option To Integrate?
Apply Pay is the safest way to make transactions. It never stores or shares the account details with the merchants or third parties. Apple uses security protocols on your iOS device to maintain the privacy of your transactions.
When a user adds bank accounts or credit cards, Apple Pay creates a device account number. The merchants are accessible to this number while accepting payments instead of your account details. The data in Apple Pay is encrypted whenever a transaction takes place to provide maximum security to users.
For secure transmission of payments, Apple Pay re-encrypts the transaction received while using the mobile wallet. It uses a developer-specific key to complete this process and provides transaction access only to the app or website you purchase.
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Reasons To Integrate Apple Pay In Your Mobile Apps
Let us look for more reasons to integrate the Apple Pay payment service in online shopping websites and apps.
#1. Consumers New Shopping Methods
The freedom of shopping from anywhere and anytime has opened opportunities for adding mobile e-wallets feature in mobile and web applications. It is estimated that globally over 2.14 billion people buy products and services online, and 60% of them use mobile wallets to pay for their products.
Along with online shopping, we can make cab payments, restaurant bills using mobile wallets. So irrespective of industry, the mobile apps can implement Apple Pay in iOS apps to facilitate the user to pay as per their convenience securely.
#2. Home is New Commerce Hub
With high-speed internet availability and smart devices emergence, every home has become a hub for selling and buying products online. Consumers can compare brands, quality, and prices from multiple online shopping sites over the internet.
It is not possible with a physical visit to the store. They can check for discounts, offers, special sales and choose convenient payment methods like Apply Pay to enjoy a hassle-free shopping experience.
#3. Loyalty Programs
Businesses should accept the loyalty points gained in physical stores during online purchases. They can also tie up with popular mobile e-wallets like Apple Pay to get more discounts. It improves brand awareness among the users and increases mobile app downloads.
#4. Enhanced Security
The trending online payment modes via Apple Pay are a buzz in the retail sector. But now high-security level of Apple Pay, merchants from every industry are accepting Apple Pay payments. On the other hand, payment security is a significant factor 80% of iOS users are using Apple Pay.
The app seeks biometrics or fingerprint authentication, or face ID for every transaction. Such a deep authentication process assists consumers or merchants in preventing fraud transactions.
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#5. Single-click Payment Method
It is another significant benefit of the on-demand iOS e-wallet Apple Pay. The best online payment application like Apply Pay facilitates users to make payments faster but secure. Apple Pay stores your credit or debit card details upon your registration and quickly access them when you pay for products or services using it.
So, the integration of Apple Pay in your application help users pay with a single click. It improves user experience and also retention rates.
#6. Customer-centric Services
It’s a fact that the popularity of digital wallet services or mobile payments is growing. Like Google Pay for Android mobile users, Apple Pay-like payment modes enable businesses to provide customer-centric payment services to iOS users.
Hence, the integration of the Apple Pay feature in apps assists enterprises in attracting customers who prefer mobile payments. It also gives payment flexibility to users and personalizes their online payments experience.
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#7. Add More Customers To Existing List
One must remember that without providing security for the user’s confidential data or money, the application will not hit the app store. It means that if a company or business fails to promise safe and secure online app payments, it prone to app uninstalls and leads to loss of existing customers.
Apple Pay offers high-level security. It has a massive customer base of approximately 27.7 million users in the USA. If this is the case, adding Apple Pay like secure payment options in the marketplace or retail apps allow service providers to clutch more new customers and retain on top in the market.
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Market Value Of Most Preferred Digital Wallet Service Like Apple Pay
The consumer way of purchase has changed drastically over the past decade. People started shopping from smartphones and tablets instead of visiting physical stores. It is making it obvious to integrate Apple Pay into mobile applications.
Increasing usage of online payment modes is the driving force for the demand for virtual or online payment services. At the end of 2020, Apple Pay revenue is heading towards billion dollars to approximately 65 million active users per month. It is because of the convenience and security provided by this mobile wallet app service.
It is estimated that online mobile transactions value will increase by 31.8% to $161.41 billion by the end of 2021 from the past year. This rise in digital payments is because of Apple Pay, the best iOS e-wallet service.
The active users of Apple Pay in 2020 reached 507 million globally. A market report says that over 90% of retailers are accepting Apple Pay mobile payments. It has more than 27.7 million active users in the USA in 2020 and stood as a market leader in the United States.
Conclusion
Many top brands across industries are upgrading their mobile applications and accepting smart payment services like Apple Pay. It benefits merchants and at the same time allows the consumer to make payments in seconds. Hence, the integration of popular online payment services like Apple Pay provides a seamless checkout and payment experience.
USM, the best iOS mobile app development company in the USA and India, develops best-in-class iOS mobile applications with advanced features like Apple Pay for retailers and online service providers.
Let us know your app requirements, and we focus on developing world-class iOS applications by integrating Apple Pay-like futuristic functionalities.
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