Apple CEO fires back as retailers block Pay

Apple Inc (AAPL.O) CEO Tim Cook fired back at CVS (CVS.N) and Rite Aid (RAD.N) on Monday after the drugstore chains blocked the iPhone maker's mobile payments service, saying there were plenty of other retailers around the world to sign up. Apple Pay launched about a week ago and saw more than a million credit cards registered over the first 72 hours. Such services, through which a user pays by holding a smartphone close to a specially designed terminal, have failed to catch on in the United States despite the backing of Google Inc (GOOG.O) and other influential players. News emerged over the weekend that the two retailers had opted out of Apple Pay in favor of a rival system that roughly 50 chains, including Wal-Mart and Best Buy, are developing for in-house use.

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