Around the Net
Apple Pay Excludes Store-Banded Credit Cards
- SFGate, Monday, October 27, 2014 12:52 PM
Macy’s, Bloomingdale’s and Toys R Us, were among the first retailers to accept Apple’s new payment system last week, letting some customers check out by flashing their new iPhones near a reader at the register. But Apple Pay left out a large chunk of the retailers’ most loyal shoppers. The payment system does not yet accept several major store-branded credit cards, which are tied to coupons and reward programs. These cards are major drivers of sales for retailers. "Apple’s really sabotaging itself,” said Burt P. Flickinger, III, managing director of consulting firm Strategic Resource Group. “Apple Pay will still revolutionize the industry. It will just revolutionize retail transactions a lot slower than it should.”
