The rumor mill continues to grow over the new iPhone 6, the iWatch, and the upcoming unveiling on Tuesday. Now re/code is reporting that Walgreens & CVS pharmacies will be the first to accept iPhone 6 mobile payments. Rumors abound that the new iPhone and iWatch will both have NFC capability with both of them having the ability to make payments.
CVS and Walgreens are expected to accept purchases made with the new iPhone payment system, details of which Apple plans to announce Tuesday, according to a person briefed on the plans. With more than 15,000 locations combined, acceptance by the two chains will give Apple a huge footprint if all of their stores are involved.
Getting the two pharmacy giants on board is a coup for another reason: People shop there often — weekly or even daily — giving Apple mobile payments the type of frequent transactions that could be key to getting people accustomed to the new service. And payments could become an important new revenue source for Apple.
Representatives for Walgreens and Apple declined to comment. CVS spokesman Mike DeAngelis said, “We don’t know what Apple may be planning in terms of a payment system so it is not possible for us to say whether it is something our stores may be able to accept.”
Having worked in pharmacy retail in the past, I can attest to the fact that customer traffic in these retail stores is indeed high. Customers tend to make them quick stops for snacks, small sundries and, of course, medications. There is no doubt that the revenue generated in pharmacy retail outlets is huge. If you’re not familiar with mobile payments, which has been available in Android for years, it’s basically an app linked to your account. You would then tap your phone (or iWatch if it is indeed capable) on the terminal and you’re done. It’s really a quick and easy way to make payments, and hopefully Apple’s entrance into the space brings its convenience to light. If you have an Android you can do this now by using the Google Wallet app and setting that up with your bank account. What do you think of mobile payments? Let us know in the comments below or on Google+, Facebook and Twitter.
Feature image courtesy green lumens.com.