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November 6, 2014

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Special Report

CVS, Rite Aid blocking Apple Pay

Apparently, not everyone is excited about Apple’s new smartphone payment system—Apple Pay. Both CVS and Rite Aid recently blocked customers from using Apple Pay at its stores, as well as the tap-to-pay mobile payments systems Google Wallet and Softcard.

MCX is developing a mobile payment system called CurrentC. Rite Aid, CVS, Walmart, Best Buy, and about 50 other retailers prefer that system because it eliminates processing fees from credit card companies.

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