Starting today, you can pay for your products at Best Buy via Apple Pay, as the Best Buy App was just released. In the same announcement, the company added that Apple Pay system will be accepted in their stores by the end of the year.
Best Buy, alongside Walmart, Rite-Aid and CVS, is a member of MCX – the Merchant Customer Exchange – a group of traders which have their own alternative mobile payment scheme, one that offers various discounts to shoppers.
In an official statement, the company said that Best Buy is adapting more and more to the many ways a customer can pay for goods and services, and the move to include Apple Pay is part of that initiative.
At the same time, Apple CEO Tim Cook also announced on Monday that Best Buy stores will be receiving payments through Apple Pay in the company’s earnings conference call.
Best Buy’s move is rather important, especially because MCX endorses its own mobile payment service, CurrentC. According to the media, just a week after the launch of Apple Pay, MCX members CVS and Rite Aid completely cut off any in-store payments via Apple Pay.
Official release on the MCX blog said that every merchant has the possibility of offering different solutions to their customers – but once they choose to work with MCX, they should be aware it will be an exclusive business relation.
CurrentC, MCX’s version of mobile payment services, was launched quietly and privately back in September, and only in select locations. However, it soon started expanding and it will be presented on regional and national levels this year. CurrentC will have its own mobile wallet app available for free in both the Apple App Store and Google Play store.
Despite its exclusive character, according to MCX, Best Buy will still be a member of the MCX group, continuing to support CurrentC as well as Apple Pay. MCX CEO, Scott Rankin explained that Apple Pay is welcomed in the mobile payments ecosystem alongside CurrentC, as 2-3 major players are vital for the business to succeed.
Just three months after Apple Pay was launched for the public, the service saw a massive expansion in availability, reaching more than 700,000 locations. Later this year, Apple Pay will add the Discovery Card – a partnership between Apple and the fourth largest U.S. credit card company. Apple has also partnered with MasterCard, American Express, and Visa.
Image Source: BGR