Businesses Slow to Back Apple Pay


While the Apple brand was once again selected as one of the most valuable brands in the world, It isn’t pushing retailers to act with Apple Pay. Their new Apple Pay application, while not yet released, allows consumers to transform their phones into wallets. There is one glitch in Apple’s plan to become the industry standard in phone pay; businesses are just not interested. While this comes as a surprise to supporters of the new program, the liability as well as transitions required to implement the new consumer pay option has companies withholding their support. Many retailers seem to also be attempting their own versions of methods for consumers to pay.

Citigroup Apple Pay

Citigroup Apple Pay

Coach, Kmart/Sears, Pizza Hut, KFC, Walmart, Chipolte among those declining to support

Big name companies have turned down Apple’s advances in applying Apple pay within their stores. Longtime Apple partner Best Buy is one of the most surprising proponents who have refused the new app. Big swinger BP as well as Publix grocery store chain have also added their names to the growing list of businesses who have declined Apple Pay. The list includes a expanding number of big names companies such as; Coach, Kmart, Sears, Pizza Hut, KFC, Walmart as well as Chipolte. Which while surprising supporters, has currently not detoured Apple from pressing forward with their launch date.Reports state that companies simply are not prepared for such a massive change within their business structure. They must reevaluate within prior to integrating the new application into their individual infrastructure. While these changes will not happen overnight, it is speculated that with time more big names will back Apple Pay.

McDonalds, Subway, Nike, Walgreens, CVS, Whole Foods Market among those backing Apple Pay

The October launch date for the exciting new application is approaching rapidly. While many businesses are currently bowing out of introducing it within their stores, others have jumped on board. McDonalds, Subway, Nike, Walgreens, CVS, Whole Foods Market as well as thousands of other have decided to back this new program. Consumers do not have to worry though, while it may take some time, companies will continue to reevaluate the opportunities presented through Apple Pay and may jump on the bandwagon later. Soon wallets and checkbooks will be relics of the past, and cell phones will not only connect individuals to the world, but will also contain their financial entity.

Many companies like to see how a technology plays out before making costly upgrades and a lot of this posturing is both retailers waiting to see if their own solutions play out and to see what consumers demand. One thing is for certain, Mobile payments are here to stay and this is only the beginning.

You may also like...

More in AAPL, BBY, MCD, SHLD, WAG, WFM
Sears Closing
Sears responds to buzz that Vendors’ Insurance Uneasy

According to Bloomberg: Three of the biggest insurance firms for Sears Holdings (SHLD)'s suppliers are seeking to reduce coverage, prompting at...

Close