CVS, Rite Aid Shut Down Support for Apple Pay

CVS, Rite Aid Shut Down Support for Apple Pay

Dawn Chmielewski:

The move appears to be motivated by business considerations, based on an internal document obtained by SlashGear, which noted that Rite Aid is working with a consortium of retailers to develop a rival mobile wallet.

Both retail pharmacy chains are members of the Merchant Customer Exchange, a company created by retail heavyweights including Walmart, Best Buy and Target.

The joint venture, formed in 2012, plans to launch its own mobile payment app, CurrentC, next year. Once launched, it will be accepted at 110,000 merchant locations around the country — competing directly with Apple Pay and Google Wallet.