“With much fanfare earlier this month Apple launched its mobile wallet — Apple Pay. Now CVS and Rite Aid have disabled Apple Pay from working in their stores.
‘When tech enthusiasts go to the store, they'd love to leave their wallets behind and pay with mobile phones instead. For companies such as Apple and Google, this seems like an obvious opportunity. But breaking into the mobile wallet business is proving much harder than many expected. Google Wallet was introduced a few years ago. It flopped. And now the much-hyped Apple Pay has hit a stumbling block. CVS and Rite Aid announced over the weekend that they will not accept Apple's new payment system. To explain why, NPR's Steve Henn joins us now. He covers technology for Planet Money. And, Steve, what went wrong here? Why won't these drugstore chains let Apple fans pay with their phones?’ “
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