Apple pay is putting all their efforts to come in parallel to its vicious business competitors. As an addition to the financial results calls of Apple, Tim cook shared that both CVS and 7-Eleven will soon have the support for click-to-pay service by the end of 2018.
He as well affirmed that Germany is also going to provide the Apple pay service by end of 2018. However, how fast this thing going to happen and reach the market has not been shared yet.
In case you are able to remember that both CVS and 7-Eleven were the part of the Merchant Customer Exchange system, the partnership which gives birth to the CurrentC mobile payment layout. The layout was designed with an intention to offer support stores by cut down the transaction charges as well as collect more data about the shopper, and to grab the benefits retailers even dropped the facility of tap-to-pay functionality. They were convinced to adopt the next generation of shopping, as long as the control is in their hands.
But, it is quite obvious that the service didn’t provide what it claimed. The protracted development delay of CurrentC provides abundant opportunity to services such as Apple pay to grow in between, and the not so appealing method of QR code scanning feature of payment cannot surpass the accessibility of tap-to-pay functionality.
The market is on a growth, Cook shared that while having the call there was more than 1B transaction performed using Apple pay in the 3rd quarter of the year, which is 300% more than compared to last year data.
The number of transaction has beaten the number of transaction made by Square for the same tenure as well as the mobile transaction is done using PayPal.
Considering this, CVS and 7-Eleven will see a hard time, if they denied the support of Apple pay any longer.