by Ty Hardison

Bill Gates praises Apple Pay

Bill Gates believes Apple Pay could have a dynamic impact on the payments industry.

When Bill Gates speaks on a tech issue, it's best to pay attention. Earlier this month, he shared his thoughts on the mobile payments space and according to the Microsoft founder, NFC and Apple Pay are driving the industry into the future. 

Gates was recently interviewed by Bloomberg and the two sides discussed several topics. When Microsoft's long-time rival and its recent announcements regarding new smartphones, a smart watch and an NFC-based payment system were mentioned, Gates was enthusiastic in his answer, stressing that Apple is setting the bar for mobile payments.

"Apple Pay is a great example of how a cell phone that identifies its user in a pretty strong way [i.e. the fingerprint sensor] and lets you make a transaction that should be very, very inexpensive," he said.& … more

Bank of America begins EMV debit card rollout

Bank of America will be implementing EMV technology into its debit cards.

After months of anticipation, Bank of America is finally beginning to roll out an EMV program that will impact its consumer and small business debit cards. On Wednesday, the bank announced that all consumer and small business debit cards will include an EMV security chip, matching the technology already included in most of its credit cards. This will make Bank of America the first major bank in the United States to implement EMV technology into its debit cards.

The EMV chip technology encrypts transaction information every time the card is used. According to Bank of America, this information will change with each use, making fraud difficult. Although Bank of America is the first major American bank to use EMV in its debit cards, the expectation is that others will join them and this … more

Tablet POS systems present opportunities for food trucks

Tablet POS systems are helping food truck owners better serve their customers.

The food truck is one of the fastest growing business trends, and anyone who has spent time in any major city can't walk far without running into one. Go outside during lunch time on a work day and you'll see whole fleets of food trucks on just about every busy corner. And as their popularity grows, food truck owners know they must ensure they can keep up with their customers' preferences. Although food trucks have traditionally been cash-only establishments, that form of currency has become increasingly scarce, which is why tablet POS systems have become must-have tools for any food truck owner. 

A tablet POS system that either runs on a carrier network or on a WiFi network set up in the truck can allow merchants to process all kinds of payments without having to use traditional … more

What will the new iPad bring to the payments table?

What impact could new iPads have on the tablet POS market?

The tablet POS market may be receiving some big news in a couple of weeks. In October, Apple CEO Tim Cook is expected to once again take the stage and introduce the latest version of a popular mobile device. While his September keynote was all about the iPhone and the introduction of the Apple Watch, next month Cook's announcement should center around the iPad.

According to numerous sources, Apple will unveil the latest version of the iPad Air and iPad Mini and could even add a third member to the tablet family. The iPad Pro has circulated the rumor mill for much of the past year and the popularity of the Air and Mini have led many to believe they will be receiving upgrades. 

Will we get a Retina Display iPad Mini, a second generation iPad Air and an all-new iPad Pro, rumored to … more

How will NFC and the Internet of Things work together?

The Internet of Things and NFC technology can have a dynamic impact on the payments industry.

The Internet of Things (IoT) is the biggest topic in the tech industry these days. The concept of connecting all devices — whether they were designed for communication or not — to the Internet is an exciting prospect with great potential. The number of worthwhile applications this technology can have in both the business and consumer realms is virtually limitless. It could end up having a dramatic impact on payments as well, provided that NFC technology continues to penetrate the market as the Internet of Things grows.

Apple CEO Tim Cook and his team made a number of exciting announcements when the company unveiled the iPhone 6 and iPhone 6 Plus on September 9. One was Apple Pay, the company's new payments system that will take advantage of the NFC … more

What will Apple Pay's impact be on the payments industry?

Last Wednesday, Apple released iOS 8, the latest version of its mobile operating system. This past Friday, the iPhone 6 and iPhone 6 Plus were released to record-breaking sales figures. Now that adoption is ramping up and more people are getting their hands on an iOS 8-loaded next-gen iPhone, the consumer electronics giant is just about ready to unveil Apple Pay. 

The functionality is already in place. The iPhone 6 and 6 Plus contain NFC technology, and it is simply now a matter of Apple releasing upgrades to its operating system that allow users to take full advantage of it. This process is taking place simultaneously with an effort to get more merchants on board and organized with the tools they need to facilitate these payments. 

In an interview featured on,  … more

What to look for in a tablet POS system

A good tablet POS system will be able to create real-time reports.

Whether your company decides to use an iPad or another tablet to manage your mobile POS system, there are certain characteristics that your devices must display in order for your new system to be successful. Prior to procuring and implementing a tablet POS system, evaluate your potential solution and make sure it contains these characteristics. 

Here are five things to look for in any new system, as referenced in a recent Business News Daily article:

Cloud-based: Does your sales data upload to the cloud so it can be accessed by other machines?

Backend capabilities: Can your system process pertinent data such as inventory numbers and generate real-time reports? Speed and efficiency is a major factor.

Security: Given recent incidents at major retailers such as Target and Home … more

What merchants should know about consumer behavior in the mobile commerce era

Customers who go to eCommerce sites on their phones are more likely to buy.

The increasing usage of mobile devices in the payments space is causing merchants to rethink the way they interact with customers. Businesses have to be mindful of trends pertaining to mobile commerce, particularly those that dictate behavioral changes.

For example, studies show that individuals are more likely to visit a mobile website with a purpose than they would if they were on their desktop computer. The idea of mindless web browsing is far more applicable to traditional computing environments, as online users go from page to page while at work or on their home computers. There is a far greater chance that someone who lands on a web page on their mobile device is going to do something other than look around. This is why sales conversions take place more often on mobile. … more

Apple truly enters mobile payments game with Apple Pay

Tim Cook unveiled Apple Pay this week.

For many years, critics of Apple have been quick to point out that while the company prides itself on innovation, it is behind the times in regards to mobile payments. A lack of NFC technology, despite rumors that have circulated for years prior to each unveiling of a new mobile device, has prevented Apple from having any significant impact in the industry. On Tuesday, CEO Tim Cook and other Apple executives put an end to the scrutiny by unveiling Apple Pay, which the company believes will revolutionize the payments process.

This October, Apple users with the appropriate devices — for now, this means those who buy the iPhone 6 or iPhone 6 Plus when both launch towards the end of the month or those who wait and buy an Apple Watch early next year — will be able to pay … more

Retailers must adjust to changing mobile payment market

The mobile payment market is changing rapidly, and retailers have little choice but to adjust.

For the past few years, the mobile payments market has been more of a curiosity than a major area of investment. Though a few companies, such as Google and Square, have taken early steps in the market, most consumers still opt to use their physical credit and debit cards to make payments, or even cash.

But that may be changing faster than people expect, and merchants will have to adapt. As a recent article on Wired argues, "the mobile payments marketplace is set to explode — and soon." 

The news source cites reports that Apple's upcoming iPhone 6 will include the technology to make mobile payments possible. But it's more than that. The source added that a number of different market participants are racing to develop a payment option that will appeal to the greatest number … more