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Apple vs MCX & $90B mobile payment market at stake


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#1 Rogerdodger

Rogerdodger

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Posted 29 October 2014 - 11:22 PM

I was in Academy Sports tonight where they have the newest NFC card readers.
But the cashier said that sales are being rejected unless the customer swipes their card the old fashioned way.

Forbes:
CVS And Rite-Aid Turn Off Apple Pay: What's Really Going On
CVS and Rite-Aid pharmacies turned off the ability to accept Apple AAPL +0.59% Pay in their stores last week. they also turned off customers’ ability to use Google GOOGL -0.14% Wallet.

NYT:
Apple Pay Runs Afoul of MCX, a Group With a Rival Product
Since Apple Pay was introduced a week ago, consumers have tried to use it in MCX members like Rite Aid and CVS. So those businesses have disabled the technology that supports Apple Pay.For weeks, Walmart and Best Buy have said they will not support Apple’s payments product. And Target, which has partnered with Apple for online payments, does not accept Apple Pay in its stores.

The problem is that under the terms of their MCX contractual agreement, they are not supposed to accept competing mobile payments products like Apple Pay, according to multiple retailers involved with MCX, who spoke on the condition of anonymity. If these retailers break their contracts, they will face steep fines for doing so, these people said.

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