Worried About Apple Pay? There Are Other Data Options for Retailers
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One of the serious obstacles to Apple Pay may not be consumers, but reluctant retailers. Some retailers are hesitant to get on board with the system because they’re wary of one company being the keeper of all their data, panelists told the second day of the Ad Age Data Conference on Wednesday. Especially if that company has previously indicated it was unlikely to share.
“For the retailer, it becomes a question of what are you willing to give up for what the customer wants,” said Dave Balter, global head of investments at Dunnhumby, a company that helps retailers and brands use data to improve customer experiences. “Are you willing to say, ‘We accept Apple Pay, but we know all that data is going into some massive database.'”
That squares with the news over the weekend that CVS and Rite-Aid stopped accepting Apple Pay, reportedly because they’re part of a consortium, MCX, developing its own mobile wallet technology. In a blog post this morning, MCX said its merchant members signed up to use its its forthcoming payment product, CurrentC, “exclusively.”
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