Apple Pay can now be used at CVS Pharmacy, along with 7-Eleven, Apple CEO Tim Cook has said. He announced this afternoon on the company’s investor call that the US-based drugstore chain would finally add support for Apple’s mobile payments platform. The news is specifically noted since CVS was one of the foremost retailers to neglect Apple Pay, choosing instead to launch its own mobile payments platform named “CVS Pay” earlier in 2016, following the failure of a rival payment system called CurrentC, which was developed by a group of retailers.
CVS Pay had become the first mobile payments solution drugstore chain adopted, after having intentionally avoided support for Apple Pay. The company considered there was value in providing its own end-to-end solution to users that combined both payments and loyalty.
Additionally, CVS had previously opted the Apple Pay alternative called CurrentC, which was built by MCX, led by major retailers like Walmart, Rite Aid, Best Buy, and others. This mobile payments solution was intended to challenge Apple’s potency in mobile payments. A lot of retailers even blocked Apple Pay at their stores in an effort to bring CurrentC to the market.
Nevertheless, CurrentC failed and the technology was sold off to JPMorgan Chase last year. Best Buy and Rite Aid had also ceded, by permitting Apple Pay into their stores. But CVS did not and instead moved forward with its own end-to-end solution.
That it has now decided to a bolster Apple Pay is a noteworthy win for Apple, similar to the expansion of 7-Eleven to the list of retailers that will soon offer Apple Pay at checkout.
The retail expansions weren’t the only big thing about which Apple announced on the investor call.
Cook also said that Apple Pay would expand in Germany but didn’t mention an exact timeframe for this launch, apart from “later this year.” He further noted that Apple Pay witnessed more than 1billion transactions in the third quarter of 2018.
Apple Pay’s global reach is growing with its expansions. The service is now accessible in 24 markets across the world, with over 4,900 bank partners. Apple Pay will also launch on eBay in the U.S., as announced by eBay last week.