Apple Pay Meets Rite Aid, CVS Competition Roadblock

The video discusses the brewing conflict in the mobile payments industry, highlighting the divide between Apple and credit card companies backing Apple Pay, and retailers like Walmart and CVS supporting CurrentC. Retailers are motivated by the desire to avoid credit card fees and gain more customer data. The video explains how CurrentC works using QR codes and the implications of retailers blocking Apple Pay and similar services until CurrentC's launch in 2015.

Which two groups are in conflict in the mobile payments industry?

• Retailers and Credit Card Companies

• Google and Retailers

• Apple and Google

• Apple and Retailers

What technology does Apple Pay use to facilitate transactions?

• Bluetooth

• Wi-Fi

• Near Field Communication

• QR Codes

Why did CVS and Rite Aid disable their near field communication systems?

• To support Google Wallet

• To enhance security

• To reduce transaction fees

• To promote their own payment system

What is one reason retailers want to bypass credit card companies?

• To support Apple Pay

• To increase transaction fees

• To reduce customer loyalty

• To gain more customer data

How does the CurrentC system differ from Apple Pay?

• It uses Bluetooth technology

• It relies on QR codes

• It requires a special card

• It is only available online