The launch of mobile payment technology Apple suffered a setback a week after the announcement of CVS and Rite Aid, part of a consortium that is developing a competing system, to get the Apple Pay its stores.
The CVS and Rite Aid networks are among the 220 000 points of sale in the United States already have the technology to read signs wireless short range that allow customers to pay Apple or similar services make a purchase the smartphone. They were not on the initial list of partners Apple Pay.
The pharmacies have stopped accepting Pay Apple last week, according to a person familiar with the situation, who asked not to be identified person. The CVS has about 7700 drug stores, and Rite Aid, 4570.
“This action announces the impending battle in the mobile payment market,” reported by e- Anindya Ghose mail, professor of marketing and information technology at the University of New York.
Trudy Muller, an Apple spokeswoman, declined to comment. Executives at CVS and Rite Aid did not respond to the publication of that matter.
At stake is a market that should jump $ 12.8 billion in 2012 to $ 90 billion in 2017, according to Forrester Research. The entry of Apple in mobile payments following efforts Square, and Google SoftCard – a digital portfolio supported by the three largest mobile operators in the United States -. Who failed to gain scale
The CEO Apple, Tim Cook, the company aims to boost new businesses that immerse users in Apple’s digital ecosystem.
The CVS and Rite Aid are part of a consortium of companies called Merchant Customer Exchang who has worked on their own mobile payment system in order to reduce dependence on credit cards. The system group called CurrentC, is in beta testing and is expected to launch in 2015, according to a statement on its website. Network members include Walmart, Lowe’s and Target
Apple’s strategy is the opposite:. A partnership with leading banks and credit card companies such as Visa, Mastercard and American Express which represent, according to the company’s Cupertino, over 80% of purchases with credit cards in the United States. Apple also charge fees of card issuers, according to three people familiar with the business.
Pay Apple works on new phones iPhone iPhone 6 and 6 Plus. The major pitfall for the company is that marketers have to upgrade systems and credit card debt in order to read the data.
Credit card issuers are pushing the US to upgrade retail Your payment terminals until next year to accept debit and credit cards with chips. The deadline to make the switch is in October 2015. So far, the over 10 million stores in the United States, approximately 220 000 already updated. The upgrade costs $ 500 to $ 1000 per terminal, according to Javelin Strategy & amp; Research.
From Advertising Age
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