MKS

apple ceo fires back as retailers block pay

by:MKS     2020-03-03
Laguna Beach, California
-Apple CEO Tim Cook responded to CVS and Rite Aid on Monday after the drugstore chain blocked the iPhone maker\'s mobile payment service, saying there are many other retailers around the world to register.
About a week ago, Apple Pay launched, registering more than a million credit cards in the first 72 hours.
Mr. Cook quoted data from Visa and MasterCard as saying it had brought more deals than all other \"contactless\" payments combined.
Through this service, users pay by approaching their smartphones to specially designed terminals, and despite the support of Google and other influential players, they still failed to catch up in the United States.
Over the weekend, it was reported that the two retailers chose not to use Apple Pay, but instead to use their competitor\'s payment system.
Wal-Mart and Best Buy are working for in-house use.
\"We have more merchants to register, we have a lot of banks to register, we have other places in the world, cook made the most extensive comments on the blockade so far at the Wall Street Journal Digital Live conference.
When launching Apple Pay, iPhone manufacturers want to lock in more customers by improving the overall utility of mobile devices.
Industry experts say it is likely to become the first widely used payment feature for smartphones.
CVS and Rite Aid did not explain their sudden move.
But the driving force behind the development of retailers
Analysts said their own mobile payment solution was designed to avoid paying credit card transaction fees to credit card companies such as Visa and MasterCard.
The cost of each transaction is between 2% and 3%.
Rite Aid stopped accepting Apple payments at its 4,572 stores last week.
Spokesman Ashley Flower said the company is evaluating various forms of mobile payment technology.
CVS did not respond to questions seeking comment, but access to both of its stores showed NFC (
Near Field Communication)
The reader using Apple Pay has been deactivated.
Despite signs of early success, it remains to be seen whether mobile payments will be widely adopted.
Cook said on Monday that Apple Pay provides better security and privacy than its competitors, and retailers may alienate customers by limiting their choices at checkout.
\"This is a small conflict,\" Cook said in response to questions about retailer action . \".
\"Merchants sometimes have different goals.
But for a long time, you are a retailer or businessman only when your customers love you.
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