US retailers snub Apple Pay in favour of own QR payment platform

A number of US retailers are refusing to support Apple Pay, just days after the service launched.

According to reports, several high profile stores including Wal-Mart, Best Buy, CVS and Rite Aid are shunning both Apple Pay and Google Wallet, with a new QR-based mobile payments platform on the way.

Read more: A closer look at the repercussions of Walmart saying no to Apple Pay

Unlike Apple Pay, which uses NFC to process wireless payments, CurrentC uses a dedicated app and relies on QR code scanning to complete a consumer's payment. The app will also house the customer's receipts and loyalty accounts.

The retailers opting against support for Apple Pay are part of the Merchant Customer Exchange (MCX), the collective behind CurrentC's development. Dunkin' Donuts, 7-Eleven and Wendy's have also agreed to support the QR-based platform, but it is not yet clear whether they will also offer support to Apple Pay at the same time.

CurrentC is currently in beta testing for a proposed 2015 launch, meaning consumers will have to wait before trying the service.

It is reportedly being tested at selected retailers in Minnesota before launching across the US next year. While the platform does have the advantage of being compatible with older smartphones, industry experts have raised some concerns over the service.

Read more: Senior exec "pessimistic" about Apple Pay

Critics have suggested that opening an app and scanning a QR code is a clunky process, while others claim that the platform is more concerned with reducing retailers' credit card fees than making life easier for consumers.