In just three days since it became available, Apple’s new mobile payment technology, Apple Pay, has hit one million activations. This means Apple is already number one in these mobile payment systems. In fact, the one million activations puts Apple ahead of all other providers combined. Meanwhile, Apple appears to be striking back at two major retailers who have stopped accepting Apple Pay.
Source: Daily Mail Online
Date: October 28, 2014;
Questions for Discussion:
1) Will this mobile payment technology continue to take off? Why or why not?
2) What might be some of the internal control issues associated with this mobile payment technology?
3) What do you think of the move by CVS and Rite Aid to not accept Apple Pay? What do you think may be some of the outcomes of this strategy?