Reasons Walmart Might Not Adopt Apple Pay

Walmart's Dubious Reasons for Not Supporting Apple Pay

Several weeks after CVS halted its support for Apple Pay, the backlash has prompted MCX to clarify their stance on partner obligations under their upcoming payment system, CurrentC. In a recent discussion with Re/Code, MCX CEO Dekkers Davidson revealed that the exclusivity agreement preventing MCX partners from accepting competing payments would expire within months.

Additionally, it was disclosed that there are no penalties for retailers who choose to abandon the CurrentC system.

Walmart's Dubious Reasons for Not Supporting Apple Pay

Many are hopeful that this development signals a potential future where retailers like CVS and Best Buy might adopt Apple Pay. However, one major retailer, Walmart, seems steadfast in its decision to reject Apple Pay.

Walmart’s stance is not rooted in security concerns or giving CurrentC a fair trial but rather in a strategic decision to minimize transaction costs. Walmart has been vocal about its focus on reducing expenses, as evidenced by their public statements and their aversion to the fees associated with credit card transactions.

Highlighting the tension, Re/Code recently shared a video from the Money2020 conference in Las Vegas, showing a heated exchange between Walmart treasurer Mike Cook and Visa’s Jim McCarthy regarding payment fees.

Re/Code commented on the incident, noting it as a clear indicator of the ongoing distrust and frustration between Walmart and the credit card networks over the high fees charged by banks for credit card transactions.

It’s important to recognize that Walmart’s grievances are not isolated.

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Michael

Mark is a dedicated writer for TUAW, bringing insightful and engaging content to Apple enthusiasts around the world. With a deep understanding of Apple products like the iPhone, iPad, and MacBook, Mark’s articles offer readers valuable tips, news, and reviews. His expertise in the tech industry, combined with a knack for clear and concise writing, makes him a trusted voice in the Apple community. When he’s not writing, Mark enjoys exploring the latest apps and software updates, always staying ahead of the curve.