In this photo provided by Wal-Mart, the company's Walmart Pay is demonstrated. Wal-Mart will now let you pay with your phone at all 4,600 stores nationwide. With Walmart Pay, the cashier scans a QR code on the phone screen to complete the payment. The effort is part of Wal-Mart's overall strategy to making shopping easier and faster. (Courtesy of Wal-Mart via AP)
US retailers have been trying for years to escape the clutches of the credit-card companies, which this year will levy more than US$90bil (RM375.70bil) in swipe fees on an industry already struggling to navigate the shift online. Some believe the answer lies in payment apps.
While shoppers have largely shunned mobile payments offered by third-party providers like Apple Inc, retailers are trying to persuade customers to embrace the technology by dangling discounts and other perks. Several chains, including Walmart Inc, Starbucks Corp and Kohl’s Corp, have had some success by baking the apps into their loyalty programmes – and more than half of companies surveyed recently by the National Retail Federation said they’ve implemented “branded digital wallets” or are considering it.
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