posted at 03:50
Author Name: Jim Edwards
Walmarts War Against Apple Pay, The iPhone Payments System
American retailers appear to have gone to war against Apple's new mobile payments system, Apple Pay, and Apple is losing. A quick look at Apple's website explaining the service highlights just 34 retail partners that support the system. Walmart, the world's largest retailer, is backing the retailers' system via a company they're partnering with called MCX. The retailers don't want Apple to monopolize a system that will produce a lot of valuable customer data. Apple Pay is an elegant, universal, simple-to-use system that can be used by any retailer. Apple's system works with any credit card you want to punch into the system. Apple Pay basically partners with, and sits on top of, the existing credit card system and makes credit cards super-easy to use by funneling payments securely through your phone. So in the long run, the fight will be between Apple's system, which is simple and works universally like any credit card, and Walmart's system, which is complicated and only works when a store agrees to adopt it. That's why, even though it looks like the Apple Pay launch is in tatters, you shouldn't assume that Apple has lost the war.

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