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CEO Tim Cook calls merchants' refusal to accept Apple Pay a 'skirmish'

Gregg Keizer | Oct. 29, 2014
'We're just getting started,' says Cook of mobile point-of-sale payment service.

Cook may have called the problems with MCX partners -- which are reportedly tied to a three-year exclusive deal that prevents them from accepting any but CurrentC payments -- a skirmish, but analysts have said that the mobile payment war will be a long slog for Apple.

"As an in-store purchasing experience, Apple Pay will remain niche both on a global scale and in the specific countries where it launches for the foreseeable future," said Jan Dawson, principal analyst at Jackdaw Research, in a post to Tech.pinions last week. "As availability of Apple Pay-compatible terminals spreads within the U.S., and as merchants and banks outside the U.S. start to sign on, the appeal and utility of the service will grow enormously over time. But that's the key point: This service won't be truly mainstream for years to come."

 

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