ASCP Skin Deep

JULY | AUGUST 2020

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find your dream career! ascpskincare.com/career-toolkits 77 Until recently, clients had to insert their smart card into your POS terminal. But, with the addition of a second chip, no-touch payments are now possible using a POS terminal with near-field communication frequency capabilities. Card Reader or Terminal Payment Apps Apple Pay and Apple Cash are considered the best in-store apps because they have all the popular features of a mobile wallet, and their users are technically super-savvy—and more likely than typical smartphone users to make contactless payments. To accept Apple Pay or Apple Cash, you need a card reader or terminal that reads NFC signals. If you are set up to accept Discover debit contactless transactions, you are set up to take Apple payments as well. If you run into issues with Apple Pay, make sure you are running the proper software on your readers and terminals. Transactions are charged at standard credit card processing rates. Only on iOS. Google Pay has nearly the same core features as Apple Pay and, according to Statista (2020), Android has maintained its position as the leading mobile operating system worldwide (as of December 2019) by controlling the mobile operating system (OS) market with a 74.13 percent share. Together, Google and Apple possess almost 99 percent of the global market share.2 Google Pay is available on iOS and Android—and uses the same hardware as Apple Pay (an NFC-enabled reader or terminal)—so it would be beneficial for you to accept both. There are currently no fees to use Google Pay. iOS/Android/Google Pay for Windows. Samsung Pay is available only on Samsung phones and uses an exclusive magnetic secure transmission (MST) technology, which allows smartphones to mimic a magnetic strip card swipe to send payment information to card readers that aren't equipped to read NFC signals. As a business owner, you can save money with Samsung Pay if you don't already have an NFC reader. If you already have an NFC-enabled reader or terminal, though, you should be able to accept Samsung Pay without upgrades to your current system. There are currently no fees to use Samsung Pay. iOS/Android/Windows. PayPal has an enormous user base (325 million active users worldwide in the first quarter of 2020, representing a 17 percent year-over-year growth3). It offers a fast checkout option called One Touch. If you have an online business, you should take PayPal payments in addition to the other credit cards. As a business owner, you can also set up a separate PayPal business account to keep your business and personal accounting separate. There are currently no fees to use PayPal. iOS/Android. Notes 1. Visa, "Contactless Payments," accessed May 11, 2020, https://usa.visa.com/run-your- business/small-business-tools/payment- technology/contactless-payments.html. 2. Statista, "Mobile Operating Systems' Market Share Worldwide from January 2012 to December 2019," last modified February 28, 2020, accessed May 2020, www.statista.com/ statistics/272698/global-market-share-held- by-mobile-operating-systems-since-2009. 3. Statista, "Number of PayPal's Total Active User Accounts from 1st Quarter 2010 to 1st Quarter 2020," last modified May 7, 2020, accessed May 2020, www.statista.com/statistics/218493/paypals- total-active-registered-accounts-from-2010.

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