Monday, October 27, 2014

Apple Pay, Bitter Medicine For CVS and Right Aid, Stops Payments After A Week

Apple Pay, Bitter Medicine For CVS and Right Aid, SnapVoIP
Drug retail stores seem to be treating Apple Pay as a bitter pill, CVS and Rite Aid Corp have disabled Apple Pay, new electronic payments service by Apple, from their stores over the weekend, According to media sources.
Apple Pay makes it easy for consumers to pay for goods and services, just by holding their iPhones to the reader installed on participating retailers. Google implemented their Google Wallet, years ago and yet to reach the mass usage. Google Wallet is also available for iPhone.
The resistance for Apple Pay from the giant drug retailers does not seem to related technical issues but a business decision, to support a rival system that is being developed by Merchants Customer Exchange (MCX), a consortium of merchants that includes Rite Aid and CVS. The MCX solution is preferred by retailers because it bypass the commission payments to the Credit card companies. Apple Pay uses traditional Credit Cards to pay for goods and services.
Via Reuters 


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