Best Buy Accepting Apple Pay and Android Pay
Best Buy now has the ability to accept Apple Pay and Android Pay in some of its stores.
On September 16, GuruAidTechSupport posted a video on YouTube showing that at least some California Best Buy locations are now accepting Apple Pay and Android Pay. In the brief video, the user demonstrates how the PIN routing system works, and he receives transaction confirmation.
Best Buy began using Apple Pay in April when they announced that purchases made on the Best Buy app could be made with Apple Pay. At that time, the retailer promised that Apple Pay would also be available in stores “later this year,” but they did not set a specific date.
This change seems to indicate that Best Buy is cutting ties with the Merchant Customer Exchange (MCX). In 2012, Best Buy and other retailers, including Walmart and CVS, founded MCX, a consortium that planned to put together a mobile wallet app called CurrentC. The app would link to shoppers’ bank accounts, so they would no longer need a credit card.
CurrentC would be an alternative to Apple Pay and allow retailers to bypass traditional credit card companies, like Visa and MasterCard, which charge merchants high fees. The app would also give merchants, instead of credit card companies, the ability to track consumer spending habits.
CurrentC has been delayed many times, though, which has led many retailers, including Best Buy, Rite Aid and Target, to move on when the contract ended in August.
This may also be good news for consumers, since making the purchase with Apple Pay and Android Pay makes transactions faster.
This entry was posted in Credit Card News and tagged mobile payments , credit cards , Best Buy , digital wallets , digital payments , mobile wallets , Android Pay , Apple Pay , Best Buy mobile app , Best Buy purchases , MCX , Merchant Customer Exchange , payment forms
The information contained within this article was accurate as of September 22, 2015. For up-to-date
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