Apple Pay heading to CVS and 7-Eleven this fall
More retailers are embracing Apple's mobile payment system.
- SABEW Best in Business 2011 Award for Breaking News Coverage, Eddie Award in 2020 for 5G coverage, runner-up National Arts & Entertainment Journalism Award for culture analysis.
Tim Cook talks up Apple Pay.
Apple Pay will be there when you have a hankering for a Slurpee.
Apple's mobile payment system, typically run through your phone, will work in CVS and 7-Eleven stores across the US this fall, CEO Tim Cook said on the company's earnings conference call.
They mark the latest retailers to jump on the Apple Pay bandwagon, which is critical to Apple getting more people to use their iPhones to pay for goods and services. While not the first company to embrace mobile payments, Apple has been the most high-profile proponent of the feature. For CVS, in particular, this marks a reversal of its attempt to start its own mobile payment system called CVS Pay.
Cook said Apple Pay handled more than 1 billion transactions in the fiscal third quarter, triple the amount from a year ago. He said Apple Pay handles more total transactions than Square, and more mobile payments than PayPal.
Apple Pay works in 24 markets around the world and 4,900 bank partners, with Germany to come later this year.