In order for a new payment platform to take off, it requires the support of merchants and credit card companies. If neither gets behind the new technology, it will have little hope of success. That's why the news this week that Discover will partner with Apple Pay is so important: According to the Associated Press, now all major credit card providers are on board with Apple's mobile payment system. 

The AP report suggests that the decision came after "months of complaints" from customers that Discover hadn't yet addressed Apple Pay compatibility. 

"As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices," Diane Offereins, Discover's president of payment services, said in a statement.

Payment data security was a leading concern for many companies considering cooperation with Apple Pay. Naturally, new modes of payment are first viewed with skepticism until that platform proves itself secure. Since the Apple platform launched in October, it's only taken about six months for major credit providers to supply votes of confidence in the methodology and framework of the system. For Apple Pay payments, a "unique device account number is assigned and each transaction is authorized with a one-time unique security code."

What this provides for retailers is another option for receiving payments. As we discussed on this blog, as many as 85 percent of Apple users haven't tested the system yet, so it's far from a mainstay among individual consumers. Implementation may have different costs and benefits depending on your clientele, business model and other considerations. 

Contact Vantage today to learn more about our suite of solutions for merchant account services.