Apple released their new iPhone six with a new feature, Apple Pay. Apple pay is a service to allow users to pay at retail stores using a “new” technology inside smartphones called near field communication. Consumers appreciated the ease of use. Simply insert your credit card information into the Passbook application, and its ready to go. Paying is as simple as holding your phone up to the contact-less reader and holding your finger on Touch ID.
Thirty-four retailers accept apple pay including Chevron and McDonald’s. Earlier this week Walmart announced that they will not be accepting Apple Pay due to the fact that when you use Apple Pay the companies are not sent your personal data which help target advertisements and track purchases. These companies are a part of MCX, which developed their own app called CurrentC and made a contract to use it. Google started using NFC for their own phone payment system called Google Wallet in 2011. Unfortunately it too was not allowed in MCX partner stores.
The future of paying with your smart phone would be possible if MCX would let go of CurrentC and allow other mobile payment services.