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CVS Launches Apple Pay Competitor

Pharmacy chain CVS, a member of the Merchant Customer Exchange consortium behind the failed CurrentC Apple Pay competitor, has launched its own mobile payment platform. CVS Pay is part of the CVS Pharmacy app for iOS that combines access to your debit or credit card, ExtraCare rewards card, and a Health Savings or Flexible Spending account. Like CurrentC and Walmart Pay, CVS Pay uses barcodes to transmit information. Interestingly, since CVS manages Target’s pharmacies, when Target implements Apple Pay support later this year, you won’t be able to use Apple Pay at their pharmacies.

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