CVS and Rite Aid Block Apple Pay

Episode 1130 (01:53)

Apple Pay

Apple users were enraged that Rite Aid and CVS are blocking Apple Pay, and are even boycotting them. Both Rite Aid and CVS used to have "tap to pay" terminals, and they worked prior to the release of Apple Pay with Google Wallet. Even right after Apple Pay started, customers were able to use their iPhones at Rite Aid and CVS successfully. But now Rite Aid and CVS have disabled all "tap to pay" terminals, including both Apple Pay and Google Wallet in favor of its own rival payment system called CurrentC.

These merchants don't like Apple Pay because it protects customer privacy. With CurrentC, the merchants get more transaction information. You won't be able to use their credit cards with it either -- it will only work with prepaid store cards or debit cards linked to a bank account. To use it, you'll have to download an app first. To buy something, you'll have to launch the application and scan a QR code that appears on the point of sale terminal. That QR code verifies the shoppers presence, identity, and initiates the transaction between the merchant and the bank. The phone connects with the cloud for authorization and sends the approval to the merchant. The CurrentC merchant then gets all of your information including your phone number, address, serial number and more.