CVS, Rite Aid Disable Apple Pay: Report

Not all retailers are embracing Apple Pay, as Rite Aid and CVS disabled the service over the weekend, according to a report in the New York Times. The reason for disabling the service was not immediately clear, the report said. CVS and Rite Aid were not immediately available for contact. Apple Pay, which Apple launched a week ago, allows consumers to pay by just holding their new iPhone 6 or iPhone 6 Plus mobile phones next to a reader. The report cited analysts saying the moves by CVS and Rite Aid could be a way to favor another payment system being developed by retailers, including CVS and Rite Aid, that was not yet available. Shares of Rite Aid fell 1.3% in premarket trade, while CVS shares were still inactive. Apple's stock eased 0.2% ahead of the open.

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