“In the long arc of time you’re only relevant as a merchant if your customers love you,” Cook said.
Retailers CVS and Rite Aid have already moved to block both Apple Pay and Google Wallet because the retailers have their own QR-code based payment system, CurrentC which will launch next year.
Wal-Mart and Best Buy are also CurrentC partners.
While NFC and Google Wallet have been around for a while, Apple Pay has recently supercharged the use of alternative payment process. Cook says it has to do with Apple making payments easy, secure and private.