Contrary to a Wednesday New York Times report, "there are no fines to MCX merchants" who choose to partner with Apple Pay and leave the merchant group, Davidson said. Retailers paid to join MCX and financially backed the app's development, so it's possible that they don't get their money back if they leave the group. Davidson declined to say if any merchants have left. Rite Aid and CVS are sticking with CurrentC--at least for now.
Davidson said mobile payments won't succeed if only one company is pushing them. "We believe it will require two or three strong players in this space" to see mobile payments catch on with consumers, he said. He also said MCX has a "great deal of respect for Apple and Apple Pay."
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