Listen Now: Apple Pay
Your next trip to Costco will benefit more than just your pantry.
The warehouse superstore is partnering with Apple and accepting apple pay at more than seven hundred stores. The new partnership will also be expanded to include Costco gas stations but that project is still ongoing.
The deal comes right after Apple announced a similar partnership with both CVS and 7-Eleven stores. The deal with CVS is an especially big deal for Apple because it was holding off on using Apple pay and was even working on its own version based on barcodes.
And that’s not the only good news for Apple, it also secured a deal to add Apple pay to eBay which gives it a presence among online retailers as well. Right now Apple pay is operational in thirty international markets and according to a recent market report will account for half of all mobile payments in the U.S. by 2020. And it’s paying off; last quarter Apple pay brought in $9.6 billion dollars.
But remember, you might not need your wallet, but don’t forget your Costco card.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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