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  • Many Top Retailers Continue to Remain Skeptical in the "Year of Apple Pay"


    Apple’s efforts to expand the footprint of its mobile payment service continue more than half a year after its debut. Though the company is expecting to bring a number of large merchants on board before the end of 2015, doing so is proving to be an uphill battle. An Apple representative told Reuters the following regarding the matter:

    We've spoken to all of the top 100 merchants in the U.S., and about half will accept Apple Pay this year, with many more the following year.
    As of right now, Apple Pay is currently available at more than 700,000 retail stores and self-service kiosks in the US. A Canadian expansion is reportedly also on tap. That being said, some merchants are reluctant to cast their hat in with Apple. Of the 97% largest brick-and-mortar retailers in the US, roughly “two-thirds” told the news agency that they didn’t plan to support Apple Pay this year compared to just 4 that pledged to accept it. A source at one of the retailers said the following despite the company declining to participate:

    They have been pushing hard and it's been that way for months. They have called and tried to persuade us even after we communicated our decision to them.
    Of those surveyed, many said they wasn’t enough demand for customers to justify the capital expenditures that are necessary to add Apple Pay, though others decried the inability to gather customer information during transactions. Maureen Elworthy, an executive at Ahold USA, claimed that the return on investment for the whole initiative was negative which is why many aren’t moving forward with it. One of the other issues behind the whole initiative, as cited by 19 of the retailers, is the restrictive nature of their MCX agreements, which prevent them from accepting any other mobile payment system aside from CurrentC before 2016. It isn’t clear how set in stone these agreements are considering a major MCX contributor, Best Buy is now offering Apple Pay support.

    We’ll have to wait and see how Apple tackles its expansion and how companies respond to the efforts by being patient.

    Source: Reuters
    This article was originally published in forum thread: Many Top Retailers Continue to Remain Skeptical in the "Year of Apple Pay" started by Akshay Masand View original post
    Comments 6 Comments
    1. buggsy2's Avatar
      buggsy2 -
      As soon as I get the new iPhone in a few months I'll be asking every retailer for Apple Pay. I've been defrauded before and it's a PITA to deal with afterward.
    1. edwilk55's Avatar
      edwilk55 -
      My local liquor store says it's an unmitigated success. Looks like we have a lot of iPhone drinkers in the world. LOL! It's where I use the svc the most.
    1. vcf's Avatar
      vcf -
      Yea I think the retailers are stupied for not taking it. Best buy pulled its head out of their as.
    1. rickuk's Avatar
      rickuk -
      Hope the rumours are true and that ApplePay is coming to the UK in a couple of months, already 30% of eligible transactions in London are completed with contactless cards, even with the current maximum spend of 20 UKP per transaction, higher limits will only help increase the rate, no retailers want to be left behind in the UK
    1. bruinsrme's Avatar
      bruinsrme -
      Here the thing, Walgreens is a great example. They accept apple pay now, so I have trend
      Feared script to there.
      What cvs doesn't realize is they are missing out on the 40-50 yo's that will one day be 60+ and established at another pharmacy and less apt to want to change.
    1. bigboyz's Avatar
      bigboyz -
      I haven't even been able to test it yet. Seems like a rock and a hard place to find a place that accepts Apple Pay.