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Payments Ecosystem is not Collaborating again; Setbacks for Apple Pay

In what industry insiders are calling a setback for not only Apple Pay but the entire payments space, CVS and Rite Aid have disabled NFC access on their terminals. This seems to be a common trend amongst MCX (Merchant Customer Exchange) members with Walmart and BestBuy also refusing to accept the platform earlier. This can be attributed to MCX announcing its own wallet - CurrentC - right before Apple Pay was announced and the retailers might feel threatened by the rate of adoption of Apply Pay which is seen as a key early success factor in this space.

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