Apple is caught between an unexpected dispute with the retailers and credit card firms.
Last week, some of the pharmacy chain stores such as Rite Aid, CVS blocked Apple Pay on their stores. These two key drug stores are owned by Merchant Customer Exchange, a company that has created its own mobile payment system.
On the other hand, Apple affiliated with some credit card firms to extend its new mobile payment service.
Recently, the pharmacy chain and other companies that have disabled Apple Pay stated that they intend to launch a new mobile payment system known as CurrentC. The mobile payment system will release sometime in the beginning of next year. It will work with the bank accounts and gift cards of consumers instead of credit cards. The link with bank accounts is indeed very beneficial for the retailers but a great loss for the customers.
The companies which include Wall mart and Best Buy have blocked other mobile payments services as well. The chief reason behind this is to support the upcoming rival of the old mobile payments services.
Unfortunately, this step would not provides retailers benefits in long run since the stakes of Apple Pay would ascend in the future. Analysts predict that soon a large number of iPhone users will begin to make use of Apple Pay. If it happens then the mobile payment market of Apple will flourish up to $90 billion till 2017.
Customers are the only one who suffers from this battle between the retailers and Apple. They eagerly waited for the launch of this incredible technology. Sadly, just after a week of release they are unable to make the most of the NFC.