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The team at Airwallex notes that as the global online sales continue to grow, “so do customer expectations.”
Digital wallets such as Apple Pay are “becoming more popular, more secure — and without all the friction, more necessary for eCommerce success.”
As noted in the update from Airwallex, Apple Pay is a mobile payment system from Apple. You can “set it up on your preferred Apple devices (iPhone, Apple Watch, iPad, or MacBook) using your credit card or banking information.”
You can then use your devices “to purchase items online without ever having to take out your debit or credit card.” You just need to choose “the option for Apple Pay when choosing a payment method.”
Airwallex further explained that Apple Pay also works for “making in-app purchases, paying for transit fare (where it’s accepted), and sending and receiving payments to and from other Apple Pay users.”
As mentioned in a blog post, the primary technology behind online Apple Pay payments “is called tokenization.”
Tokenization protects users’ banking details “from identity theft and fraud.” And it “replaces the consumer’s credit card number with ‘tokens,’ or randomly generated numbers.”
Because the token, and not the actual account number, is stored in Apple Pay and transmitted during transactions, “there’s no risk of stolen financial information.”
Accepting Apple Pay “provides numerous benefits” to digital commerce businesses.
Importantly, payments made via Apple Pay are “very secure,” the team at Airwallex noted while adding that two layers of protection “serve to protect consumers’ information:”
Airwallex also shared:

• Tokenization: The card data stored in and transmitted by Apple Pay “is tokenized (or replaced with randomly generated numbers), protecting it from fraud.” While this is an obvious benefit for consumers, “many businesses also appreciate that they don’t have to handle sensitive data.”
• Authentication: Users “must scan their fingers using Touch ID to authenticate Apple Pay transactions through their Apple device.” This means that “even if someone’s device is stolen, the thief won’t be able to access their Apple Pay.”

Apple Pay is also a “frictionless” payment method. If you’re struggling with conversions, digital wallets like Apple Pay “can help customers breeze through the checkout experience.”
For instance, clients don’t need to “go through the hassle of entering card details or billing and shipping addresses.” For shoppers who are in a hurry, “this can be the difference between making the sale or not.”
After all, 39% of US cart abandonments “are due to lengthy or complicated checkout forms.”
Apple Pay users also “get to skip the hassle of 3 Domain Server (3DS) authentication, which provides added security at the cost of extra steps at checkout.” The long-winded steps required by 3DS have been shown “to decrease conversions for eCommerce merchants, with reports indicating that conversions decreased between 22% to 50%.”
Fortunately, Apple Pay “enables consumers to skip these steps without jeopardising their security.”
 
According to the update from Airwallex, it comes “as no surprise that the above benefits translate to increased conversions.” But just how much Apple Pay can affect conversions is worthy of attention: “Merchants using Apple Pay have seen conversion rate increases of up to 250%.”
That’s in addition “to reducing the time it takes to complete checkout by up to 58%.”
The team at Airwallex further noted that Apple Pay is “a must for eCommerce merchants looking for ways to help hesitant shoppers seal the deal.”
They added that setting up Apple Pay for in-person purchases “requires a couple of extra steps, such as getting an NFC-enabled payment terminal.” But accepting Apple Pay for e-commerce is “quite simple.”
You just need to “choose an Apple Pay-friendly payment processor.” The websites of the payment processors you’re considering “should make it clear whether they accept Apple Pay.”
You will need to set up your Apple Pay payment infrastructure. This may “involve adding a ‘Buy With Apple Pay’ button to your website’s checkout page or following simple steps to activate Apple Pay.”
You would need to check with your specific e-commerce platform for additional instructions.
You may also connect Apple Pay to your website. Your website “should have instructions available on how to activate Apple Pay in your online payment gateway.”
As clarified in the update, Apple does “not charge merchants any fees for using Apple Pay either in person or online.” So, you can “start increasing conversions and providing a better, more secure checkout experience at no additional cost.”
Airwallex makes accepting Apple Pay “easy”
Accepting Apple Pay as an online business “isn’t difficult.” But using Airwallex as your payment processor “makes it even easier.”
Airwallex enables merchants “to register themselves for Apple Pay in three easy steps via our web app.”
The Fintech firm then handles “most of the integration for you behind the scenes, requiring little to no effort from you and your business.”
They added that “once Apple Pay is set up, your customers can start using it immediately for standard purchases with Visa and Mastercard.” Meanwhile, you’ll also be “reaping the other benefits of Airwallex’s Online Payments,” such as:

• Payment settling in multiple currencies
• Fraud protection using our 3DS fraud engine
• Flexible integration methods
• No monthly fees or hidden costs