Square diversifies, launches NFC reader for small businesses to accept Apple Pay

Square has become the leading solutions provider for peer-to-peer payments and the easiest way for small businesses and merchants to accept credit card payments using an iOS or Android device, is now making a new NFC reader compatible with Apple Pay available in the US. 100  small businesses will be able to test the reader before it goes public. Business owners can buy the Square reader for $49 to begin allowing customers the option to use Apple Pay in the US. We reached out to Square Canada and they currently don't have anything to announce, but we'll keep stay tuned.

Samsung Pay mobile payments system now available in the US

Samsung's mobile payments system, Samsung Pay, is now live across the US. Using a built-in app as well as thier fingerprint sensor, the service allows users to pay for purchases via NFC and contactless payments terminal.  The service is available only to Samsung Galaxy S6, S6 Edge, S6 Edge + and Note 5 devices on AT&T, Sprint, T-Mobile and  US Cellular provided they're tied up with Visa, MasterCard or American Express accounts. 

Source: Engadget

The Apple Beat: Why Apple Pay is sending shockwaves through the payments industry

By Gadjo Cardenas Sevilla

 Apple Pay is actually a very big deal. More than just enabling mobile payments in a handful of partner retailers, the entire system is designed to ‘just work’ once the switch is flipped. Apple Pay will hope to become as prevalent a payment option as Visa, MasterCard or any debit card that people are already using. 

The first public Apple Pay transaction is still a few weeks away from happening, but news that Apple’s solution to mobile payments is coming, is sending shockwaves through the payments sector.

A key feature of the new iPhone 6, iPhone 6 Plus and Apple Watch, Apple Pay has the backing of major credit card companies, over 800 million ready-to-go credit cards on iTunes, various debit cards plus 220,000 retailers and businesses have already signed up or, at the very least, already have the necessary infrastructure to accept Apple Pay without any large investment in hardware or training.

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Report claims Apple partners with American Express for mobile payments in iPhone 6

Days away from the upcoming Apple event and the rumour mill is abuzz with life. A new report has surfaced saying Apple has reached an agreement with American Express to bring new mobile payment systems for the upcoming iPhone. This is in line with part leaks that have shown the presence of NFC (finally) in the iPhone 6. There are credit card companies that support NFC use for wireless payments and hopefully Apple’s supposed entry into the space might push merchants to support this kind of payment system. We’ll just have to wait a bit more to see if there is any truth to the new rumour.

Source: Recode