PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

CVS Pay

By Raymond Pucci
August 15, 2016
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
biometrics

Add another mobile pay to the merchant marketplace with the launch of CVS Pay. The pharmacy and healthcare services giant will be rolling out an integrated mobile application beginning with the Mid-Atlantic states as the following article describes.

Drugstore chain CVS Health announced that it will start accepting in-store payments through its existing mobile application, with USA Today reporting it will launch the effort in markets including New York, New Jersey, Pennsylvania and Delaware before mounting a nationwide rollout by the end of the year.

The new CVS Pay feature will be integrated into the retailer’s flagship CVS Pharmacy app alongside ExtraCare loyalty rewards and prescription drug pickup capabilities. To use CVS Pay, customers first add their credit or debit card in the CVS Pharmacy app. When they are ready to check out, they’ll show the CVS store associate the barcode in their app: The associate will scan the barcode, ring up the purchase, and process the payment.

Research from eMarketer shows that nearly one in five Americans are expected to use smartphones to make in-store purchases this year, which amounts to about 37.5 million users, up 62% over 2015.

CVS, along with Wal-Mart and several other retailers, had been involved in the CurrentC payment app consortium, until that project stalled in recent months. Now, like Wal-Mart, CVS is choosing to pour its payment app energies into a native app.

CVS is joining what is turning out to be a long list of retailers that are developing their own integrated mobile apps for payments, ordering, and loyalty programs. Walmart recently introduced their own pay system, adding to others such as PayPal, Amazon, Visa Pay, Masterpass, not to forget Apple Pay, Samsung Pay, Android Pay…..you get the idea. At what point will consumers be saturated with the alternative payment systems? How many payment apps and mobile wallet cards must you have? Certainly, many retailers are trying to emulate Starbucks, thus far considered the leader of the mobile pay apps. Expect other retailers to follow suit and join the bandwagon to a point of overload.

Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group

Read the full story here

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    commercial card, Allpay ClearBank Prepaid Payments, wealth transfer

    How Banks Can Capture the Wealth Transfer from Boomers to Gen Z

    June 20, 2025
    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result