Consumers go Apple Pay crazy, but retailers not so enthusiastic

Consumers go Apple Pay crazy, but retailers not so enthusiasticApple Pay launched last week, and there’s no shortage of stuff to talk about in the wake of the initial rollout. Some sites are focusing on the positives while others are predictably negative, but here we’re merging the two takes into one efficient newsbite.

In short, consumers are going Apple Pay crazy, making it easily the biggest contactless payment combatant by far, but things aren’t quite so rosy over in Retailer Town.

Speaking at The Wall Street Journal’s Digital conference (tons of coverage on 9to5mac), CEO Tim Cook reveals that Apple Pay has already amassed a whopping 1 million+ activations - that's in less than 72 hours, making it not just the biggest single contactless payment player, but bigger than all other players combined.

At launch, Cook said Apple was “not in the business of collecting your data”, and he reiterates that Team Cupertino is not “Big Brother… We’ll leave that to others.” Not pointing any fingers at Google, obviously (ahem).

That all sounds pretty great, but there are some high-profile Apple Pay holdouts, including Wal-Mart, Best Buy, CVS and Rite Aid, the latter two actually changing their minds after the launch. They’ve actually turned their backs on all contactless payments for now, so services like Google Wallet are affected, too.

That’s likely because the Merchant Customer Exchange – which incidentally includes Wal-Mart, Best Buy, CVS and Rite Aid – is working on its own contactless payment technology, namely CurrentC.

On the plus side, Apple Pay is currently supported at over 220,000 locations, with more on the way. And that’s just in the US; Apple Pay will likely hit other locations, including the UK, next year.

I have to admit, I wasn't big on the idea of contactless payments at first, but having a contactless debit card is really quite convenient. PIN codes? Security? Who needs 'em!

Read more about: iOS

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JanSt / MOD  Oct. 28, 2014 at 15:00

The fact that retailers need new hardware is a big disadvantage in these not so good times... But enough nagging iUsers will change that, no doubt.

mrew42  Oct. 28, 2014 at 15:13

I totally agree Jan. Many have only just swapped their ageing Chip & PIN devices for newer, PayWave enabled devices (e.g. Tesco who really know how to sweat their assets). another swap is a move too far for many


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