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The months of September and October had been very happening for tech giant Apple Inc. as far as new launches and debuts are concerned.
The Cupertino-based company registered the highest selling record of its new generation of smartphones-iPhone 6 and iPhone 6 plus. It also announced a new line of iPads. But the hottest debut by Apple that caught enough attention of the tech world is the launch of its mobile payment service ‘Apple Pay’.
Apple Pay, which was unveiled on October 20, is catching on quick but some major retailers have raised objection to it. Retailers like Walmart, Rite Aid and CVS pharmacy have stopped the use of Apple Pay against other mobile payment systems.
Within three days of its launch, Apple Pay had activation of over one million credit cards.
During a tech conference in California, Apple’s chief executive Tim Cook had declared Apple Pay a success, saying more and more people are using Apple Pay as compared to other mobile payment systems.
“It’s sort of that ‘ahh’ moment — you use the phone and it’s all you have to do,” Cook told the reporters at the conference.
Even if Apple Pay has gained popularity among customers, some of the businesses have rejected the technology.
Retailers like Best Buy, Walmart, CVS and Rite Aid have chosen never to accept Apple Pay.
Responding to a question during a press conference on Monday regarding the growing reluctance among the retailers over using Apple Pay, the Apple CEO Cook had said, “In the long arc of time, you’re only relevant as a retailer and merchant if your customers love you.”
Some of the anti-Apple Pay retailers are opting for another alternative called ‘Merchant Customer Exchange (MCX)’, a merchant-owned mobile payment company. All the e-retailers Walmart, BestBuy, CVS and Rite Aid are MCX members and therefore have disabled Apple Pay accessibility from all of their stores.
Insiders said the denial of Apple Pay is probably because of the formation of the consortium ‘MCX’ that is going to create a rival system by 2015 that would be called as CurrentC.
According to the market analysts, the decision to disable Apple Pay by CVS and Rite Aid was far more in favor of their own system.
Spokespersons for both CVS and Rite Aid said that they are still “evaluating mobile payment options”.
MCX is currently working on mobile payment software, known as CurrentC, which will be used at the respective stores of these companies.
According to the MCX group, CurrentC would be a better replacement for other mobile payment systems as it will be linked to a consumer’s debit account directly. As the system doesn’t use credit cards, retailers won’t have to pay for fees per transaction.