There was a lot hype before Apple Inc. (NASDAQ:AAPL) released its new products and a lot of it was around the new Apple Pay, the tech giant’s mobile payment platform. However, that might be the height of popularity that fate had in store for the new tool. Its extinction might be nearby.
On TheStreet, Jonathan Marino, told about one such incident that is putting Apple Inc. (NASDAQ:AAPL)’s Mobile Payment tool in danger. This involves CVS Health Corp (NYSE:CVS) this time and the complaint is regarding insufficient user information, through this method of payment.
“[…] The move that really set fan boys off was the company’s move, along with other stores to block Apple Inc. (NASDAQ:AAPL) Pay and other NFC payment applications based, because CVS Health Corp (NYSE:CVS) and others can’t get enough user information through that kind of technology […],” reported Marino.
Although this might be a new complaint of sorts to hit Apple Inc. (NASDAQ:AAPL) regarding its mobile payment platform, but it certainly isn’t the only headwind that the new application faces. Retailers, who are trying to come up with their own feature of a similar type, so that they do not have to bear the costs of transaction fee and sorts, are also removing the use of such payment method from their stores.
Apple Inc. (NASDAQ:AAPL) is a tech company that doesn’t take ‘no’ for an answer so easily, but it will definitely be interesting to see how the company comes around this hurdle.
Retailers not getting enough information from the new tool that is based on Near Field Communication (NFC), should in a way be good news, so as to limit credit card fraud which has raised alarm in quite a few incidents recently. As the story develops, it will be more clear as to exactly the kind of information CVS Health requires, and if Apple Inc. (NASDAQ:AAPL) can perhaps make some adjustments in its payment tool.
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