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Some retailers don't want Apple Pay, hoping to create rival service

WalMart, Rite Aid, CVS, and other retailers don't want to test Apple Pay, and have their sights set on a rival mobile payments offering
By: Michael Hatamoto | Mobile Devices, Tablets & Phones News | Posted: Oct 28, 2014 12:30 pm

WalMart and other major US retailers don't want to bother testing the Apple Pay mobile payment service, wanting to commit to development of their own payment systems.




"The economics and benefits of having your own payment system is definitely one of the main reasons," noted Hitesh Sheth CEO of the Vectra Networks retail cybersecurity company. There is a risk of the mobile payment market fracturing even further, but retailers hope to cut out transaction fees that Visa, Mastercard, and other credit card companies collect.


For retailers currently accepting Apple Pay, most users have reported a relatively easy experience completing transactions. However, with growing talk of rival services expected, Rite Aid and CVS both pulled the plug on Apple Pay over the weekend - and Apple will have to work to convince other retailers to jump onboard.


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