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Accepting Mobile Wallet Payments

 

All EVO Payments point of sale terminals are set-up to accept Google Pay (G-Pay) and Apple Pay mobile wallet payments. In this blog post we explain everything you need to know about mobile wallet payments.

Mobile Wallets

A mobile wallet is a virtual wallet that stores debit and credit card information to allow consumers to pay for goods and services without using a physical debit or credit card. The most popular mobile wallets are Apple Pay for iPhone users and G-Pay for Android users. Mobile wallets can be used across a number of different devices such as smartphones and smart watches.

Mobile wallet payments work without the customer needing to touch the card terminal, as they would if they had to enter a card pin. This reduces contact with surfaces and helps keep your customers and staff safe from germs and viruses spreading. If you are looking for information on how to disinfect your card terminal we have instructions as to how you can do so here.

Mobile Wallets Safety and Security

Mobile wallets are widely considered to be safer than traditional wallets. Before you can pay with a mobile wallet you will need a password, fingerprint, or face scan. Tokenisation is also used when a mobile payment is made. This means that when your payment information is sent over Near Field Communication (NFC), it is encrypted in the form of a token. This allows the payment to be processed without showing actual account details to the mobile wallet provider. Your details are kept safe and secure as your payment is processed.

Process for accepting a mobile wallet payment?

For the merchant, the process is the same as putting any other sale through a POS terminal. For the consumer, the process for completing the transaction depends on which mobile app they are using:

  • How to use Apple Pay: You can either use Face ID (double click the side button, then look at your phone), a passcode (type it in), or a fingerprint (rest your finger on Touch ID). Then hold the top of the phone near the reader and wait for a “Done” accompanied by a checkmark.
  • How to use G-Pay: Unlock your phone and hold it near the POS until you see a blue checkmark.

 

Maximum transaction value limits for mobile payments

Mobile wallet payments do not have the same limit as contactless transactions, which has been increased to £45 since the 1st of April 2020. Individual retailers can set limits on mobile wallet payments that can be put through their card terminals. However, most retailers that accept mobile wallet payments do not cap the value of the transaction. This is because the transactions require some form of authentication, like a password, fingerprint, or face scan like a physical debit or credit card requires a pin and therefore are considered safe and secure.

Advantage of accepting mobile wallet payments for businesses

Consumers almost always carry their mobile phone, even if they haven’t brought their wallet. Accepting mobile payments allows consumers to purchase from you even when they haven’t gone out with the intention of buying something.

Start accepting mobile wallet payments

If you already have an EVO Payments terminal you don’t need to do anything, you can start accepting mobile wallet payments immediately. If you are not already an EVO customer, fill in form below and we will be in touch to help you on your way to accepting mobile payments.

 

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