Published Date : Sep 11, 2018
The Japanese-owned chain of convenience stores 7-Eleven has been particularly slow when it comes to adoption of mobile payment technology. However, the company has finally declared today that it would bring Google Pay and Apple Pay to its U.S. stores from this month.
Earlier this summer Tim Cook, the current Apple CEO, said that rollout at 7-Eleven was inevitable alongside in the CVS chain of pharmacies. The addition of such payment options would go a long way in further making them mainstream. This is because currently 7-Elevens is spread across 66, 000 locations in 17 nations. And the U.S. accounts for almost 14% of its overall market.
Mobile payments so far have been mainly used in larger-scale retail outlets. But with the addition of 7-Eleven chain to it, it can be easily popularized. It would help tap into the three-quarter of population in the U.S. who use smartphones.
Meanwhile, Apple Pay is also launching at various retail stores and U.S. banks all over the world. In fact, CVS was initially quite vocal about its dislike for Apple Pay, as per Tim Cook. However, going forward, it now has plans to leverage Apple Pay support at its stores from this year onwards.
The uptake of Google Pay and Apple Pay by 7-Eleven marks an important step in its efforts to modernize consumer-facing services. For instance, the app called 7-Eleven NOW provides products on-demand from its stores and offers Apple Pay for checkout options.