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Apple Inc. (NASDAQ:AAPL)’s Payment Service Gets Huge Boost From Best Buy

Apple Pay is one of the most sought after projects that Apple Inc. (NASDAQ:AAPL) launched lately. Experts claimed it the future of payment and one stop solutions for all those who wanted safety, security and the fast transaction.

As per the reports, Apple Pay has revealed that Best Buy; one of the largest retail stores in U.S. would start accepting payments through Apple Pay in his iPhone App and physical stores towards the end of the year.

Road So Far:

The information was unveiled by company’s CEO Tim Cook during an earnings conference call on Monday. Apple Pay facilitates users pay for goods right from their iPhone and Apple Watch with no need to carry physical cash. The company launched it in September 2014 with an objective to provide a secure payment option to all of its users.

Experts considered it a second to none tool for payments, yet Apple struggled to acquire high-profile clients. Quite a few companies have started accepting it, but still there is a long way to go for Apple. In such situation, the tie-up with Best Buy can be a perfect start of the year for the company.

Best Buy is one of the renowned members of the MCX consortium of major retail stores that collectively planned to come up with an alternative mobile payment system that could offer various rewards to shoppers. Apart from Best Buy, other major names in this list include CVS, Wal-Mart, and Rite-Aid.

MCX grabbed unwanted attention when it disabled all the point of contact machines which had been executing operations with Google Wallet after discovered that customers were using it with Apple’s Apple Pay.

That time MCX demanded exclusivity, but its recent move has surprised everyone. CEO Scott Rankin has stated clearly that even after adjoining hands with Apple, MCX will not part its ways with Best Buy.

Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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