Finally a voice of reason amongst a chorus of insanity. Seriously. You've had this ability for what - about a week or so? And now you don't. The world has not ended. I hardly believe that people choose to shop at CVS, Walgreens, RiteAid or where ever based on whether or not they can pay with their iPhone. Price, convenience and product selection trump the ability to pay with an iPhone. Shareholder revolts? Seriously?
It's not unheard of for merchants to not accept different forms of payments. For example, many believe that businesses must accept physical cash. Not true according to the US Treasury website:
"There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy."
As everyone knows, some merchants refuse credit cards altogether. Some merchants won't take checks (paper checks - how old fashioned I know). Sam's Club doesn't accept Visa because Visa will not give them a break on transaction fees. Lots of merchants don't take AMEX because of high fees as well. When's the last time you were in a store that took Diner's Club?
I realize fees aren't the reason CVS and RiteAid made their choices but the principle is the same - a business based decision. Giving up customer data is a very big deal.
