Apple Pay Rings Opening Bell in Banks vs. Retailers Match


Apple’s unveiling last week of its Apple Pay NFC mobile payments system has triggered a clash between banks and the retail industry. Apple has lined up support from banks and credit card companies, but Best Buy and Walmart have said they will not support Apple Pay, according to reports. Instead, they will go with a competing mobile wallet application, CurrentC, which they and several other large retailers have been working on since 2012. CurrentC may offer consumers the option to link to checking accounts, debit cards and merchant charge cards.

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