Apple’s mobile payment system Apple Pay, which lets you pay for items using your iPhone, is slowly becoming more widespread. But its rollout has been hindered by the lack of acceptance at major chains. That’s about to change, because CVS and 7-Eleven are finally on board. You’ll finally be able to pay for snacks, prescriptions and toiletries without taking out your wallet.
Apple CEO Tim Cook announced during the company’s fiscal third-quarter earnings call yesterday (July 31) that Apple Pay would be supported at CVS and 7-Eleven stores nationwide later this year.
This is a huge move, given that CVS was staunchly anti-Apple Pay for years after the mobile payment system’s launch in 2014. CVS briefly used its own service, CVS Pay, then joined a consortium of retailers to launch a QR code-based service called CurrentC. If you never heard of it, don’t worry: The service crashed and burned, then was sold for parts to J.P. Morgan Chase in 2017.
Apple Pay usage has steadily grown to more than 1 billion transactions in just-completed June quarter even with retail chain holdouts, according to Apple. About 4,900 banks in dozens of countries around the world support the payment service, with Germany coming online later this year.
Cook said CVS and 7-Eleven will both add support for Apple Pay at their tap-to-pay terminals in the fall.