Apple Inc. Apple pay

Apple Inc with the launch of the iPhone 6 duo also introduced a new mobile payment method called Apple Pay. Apple Pay is supposedly going to take over the entire mobile payment industry. However, the way retailers are abandoning it, Cupertino giant, and its customers are having a hard time keeping up with the service. Unofficial Apple Pay retailers in the US, including Rite Aid and CVS that have compatible NFC machines, stopped accepting payments from both the Android and iPhone 6 users.

Within 72 hours of its release, Apple Pay was activated by more than 1 million users in the US, which makes the company to have the largest and most popular mobile payment service in the whole world. Apple CEO Tim Cook said that with the 1 million active users Apple Pay is currently the most important and most used service in the world right now.

The fallback of retailers clearly states one of the two things. First, as they are not yet ready to accept payments with Apple Pay and on the other hand they are trying to adapt a new payment method that everyone can use on their phone. CurrentC, a new payment method, generates a QR code for the merchants to accept the payments. However, it is still in development and will be in use by the next year. Majority of the merchants are supposedly holding on the service that is yet not released and is uncertain about its performance.

In an interview, Tim Cook said that he is very much happy about the Apple Pay performance, however, as retailers are not able to keep up with it, the Cupertino giant blames them only for not deploying in their Apple Pay compatible NFC terminals.

The service is yet not available in India but is expected to roll out by the end of next year after the launch of a next generation iPhone or any other product for that matter.

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