It has been no secret that CVS (NYSE: CVS) has no intention of accepting Apple Pay at their retail establishments. In order to avoid the need to do so, the company has decided to create their very own end-to-end mobile payment solution. CVS Pay will be made available to all consumers at all CVS Pharmacies. The company hopes their new system will make staying healthier more convenient than ever before. The associated mobile application gives consumers the ability to manage their prescriptions, take advantage of the ExtraCare loyalty program, and make payments at the checkout. Besides streamlining the checkout experience, CVS hopes to make their new payment system so much more.
In terms of the checkout experience, the CVS Pay system combines several steps into a single scan. Those that intend to visit their local CVS to pickup a prescription will treated to a private, end-to-end pharmacy experience with CVS Pay. The app will give users the ability to manage prescription, order refills, and get alerts when their prescription medications are ready to be pilled up. Users will also have the ability to sync their ExtraCare card with the CVS Pay system. This will make it easier for consumers to earn rewards on each and every one of their CVS purchases.
Using the CVS Pay system requires a few actions on the user’s end. First and foremost, they’ll need to download the CVS Pharmacy app. Secondly, they’ll need to add a credit or debit card. Once these steps has been completed, the customers can show the barcode within the app to their local CVS store associate. Alternatively, the consumers can also show their pickup number, when proceeding through the drive through. Once the barcode and the items have been scanned, the consumers will be able to pick a payment method and the transaction will be processed. After the transaction has been completed, the user will receive a verification through the app.
At this point in time, CVS pay is only available in certain locations, including Delaware, New Jersey, Pennsylvania, and New York. New markets will be introduced over the remainder of the year. The associated app works fluidly with all iOS and Android devices. Whole Rite-Aid and Best Buy have opted to access Apple Pay, CVS had decided to invest time and money into their own system. CVS is not the only company to do so. Wal-Mart introduced their very own payment solution, Wal-Mart Pay, earlier this year.