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ApplePay: Tim Cook speaks out on Rite Aid and CVS

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AdonisSMU

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Oct 23, 2010
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"We've been told by MasterCard and Visa that if you summed up everyone else in mobile payments, we're already No. 1," said Cook at the WSJDLive conference here." We're more than the total of all the other guys, and we've only been at it for a week."
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Yet over the weekend, retailers CVS and Rite Aid, which hadn't initially signed up with Apple Pay, disabled its mobile payments retail pinpads, when it was discovered that customers were using them for Apple Pay instead of Google Wallet, as had been initially intended.

"It's a skirmish, that's the way we see it," said Cook. "I think that over the long arc of time, retailers will step back. Merchants have different objectives some times, but in the long arc of time, you're only relevant if customers love you."
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The difference is the banks. It seems like the banks are really on board with :apple:Pay. I just got an email from wells fargo letting me know that if I use :apple:Pay before Nov 30th I will receive $20 statement credit. 20 bucks for using something I was already planning on using :eek:

When I used google wallet on my nexus 5 it was clear that the banks didn't care if I used it or not.
 
Retailers like Rite Aid and CVS will crumble like Verizon did with the iPhone.
 
Considering the majority under contract with MCX, have not defended MCX, most will bail once their 3 year contract with MCX ends in 2015.
 
hellmacpro said:
tim is Right on this....companies are relevant if the customers love them.
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Like how people just love Google and Facebook and Microsoft and and and...

I agree that it's all about the banking side, not the retail side. That's why Apple is positioned correctly. If banks are behind ApplePay the retailers won't have any choice but to fold and accept it.
 
Surf Monkey said:
Like how people just love Google and Facebook and Microsoft and and and...

I agree that it's all about the banking side, not the retail side. That's why Apple is positioned correctly. If banks are behind ApplePay the retailers won't have any choice but to fold and accept it.
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yeah..i believe apple is on the right track.
 
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