Headlines

Retailers Reluctant on Apple Pay

Retailer's new payment system requires new checkout technology

Published

10 years ago

September 12, 2014

Apple’s (Cupertino, Calif.) unveiling this week of Apple Pay is receiving a mixed reaction from retailers. According to the Wall Street Journal, while “an impressive list of banks and credit-card issuers” support the new mobile-payment service, merchants may be slow to adopt the near-field communication (NFC) system, which enables customers to pay with their phones.

Merchants must install readers, costing upwards of $300 per device, at checkouts for the “tap-and-go” payments; currently, fewer than 10 percent of U.S. merchants have such hardware. Macy’s, Bloomingdale’s and McDonald’s Corp have committed to adopting the system, according to Apple. Other retailers, including Walmart and Best Buy say they will not invest in NFC.

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