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Wednesday, 29 October 2014

Wal-Mart and allies in face-off with Apple Pay over mobile payments

Eddy Cue, Apple's senior vice president of Internet Software and Service, introduces Apple Pay during an Apple event at the Flint Center in Cupertino By Nathan Layne and Nandita Bose CHICAGO (Reuters) - Suddenly it's Apple versus Wal-Mart in the fight for shoppers' digital wallets. With the development of a new mobile payment system, a group of retailers led by Wal-Mart Stores is aiming to upend the $4.5 trillion credit card market and control the precious transaction data generated at the checkout line. The difficulty of the task became clear this week when drugstore chains CVS Health Corp and Rite Aid , in a move apparently aimed at shoring up the retailers' pay system, stopped accepting payments on Apple Inc's iPhones. ...








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