Apple revealed that it entered into a new partnership for its Apple Pay mobile payments system with PayAnywhere, a credit card reader that is currently being used by over 300,000 locations all over the United States.
As part of the agreed upon partnership, Apple will exclusively be selling the latest version of the PayAnywhere Mobile Reader in Apple Stores starting next month, with the device to be sold at a price of $39.95.
The PayAnywhere reader accepts payments by customers through Apple Pay, along with several other contactless mobile payment solutions using NFC technology and the traditional credit cards. The reader is also EMV-capable.
"We are very excited to launch sales exclusively in Apple Stores throughout the country," said PayAnywhere CEO Marc Gardner in a statement.
Gardner added that to be able to show the simplicity and ease in accepting Apple Pay payments with the PayAnywhere reader, the company is offering the first $5,000 free for Apple Pay transactions that will be processed through a new account on PayAnywhere.
In an interview, Jennifer Bailey, the head of Apple Pay, said that she thinks Apple's mobile payment system is offering the best customer experience in the market today, with the safest solution when it comes to protecting the privacy and credit card details of customers.
With the PayAnywhere reader to increase in availability with the decision to sell the device in Apple Stores, Apple is inching closer towards its goal of having over 1.5 million locations supporting Apple Pay before the year ends.
Through Apple Pay, instead of customers having to carry cash or credit cards, they will only have to use their iPhones to make purchases. After walking up to the checkout counter of stores where Apple Pay is supported, users can complete transactions by pressing on the fingerprint sensor of their smartphones, where their credit card or debit card information is stored.
The mobile payment system market is quickly growing, with consumers making $52 billion in mobile payments in 2014. According to Forrester Research, that figure will be increasing to $142 million by the year 2019.
The high growth levels have enticed giants such as Apple and rivals Google and Samsung to enter the space, with Android Pay and Samsung Pay set to be launched soon.