Drugstore chain CVS on Thursday announced CVS Pay, their new barcode-based payments solution that integrates payments, Prescription pickup, and loyalty program tracking into a single barcode scan at checkout. The new payments system is built-in to the updated CVS Pharmacy app for both iOS and Android devices.
CVS Pay works with all major U.S. credit cards, including MasterCard, Visa, Discover, and American Express, in addition to debit, Health Savings Account, and Flexible Spending Account cards. All verifications for prescriptions and payment like a signature or PIN occur within the CVS Pharmacy app.
Customers add their credit or debit card information to the app, and can then show the store cashier a barcode or pickup number to initiate payment. The cashier then scans the barcode, rings up the customer’s purchases, and then allows the customer to select a stored payment method to complete the transaction.
This is the drugstore chain’s first attempt at an official mobile payments solution, although it was part of the ill-fated MCX-led CurrentC payments consortium that was recently postponed (cancelled) before ever being officially released to the public. The chain is also a high-profile member of the anti-Apple Pay merchant group, as it disabled Apple Pay, (and other NFC-based payments), soon after the U.S. launch of Apple’s mobile payments solution.
CVS Pay is now available in select markets, including New York, New Jersey, Pennsylvania, and Delaware. A nationwide rollout is expected to take place later this year. The CVS Pharmacy app is free, and is available for iOS and Apple Watch devices in the App Store. [GET IT HERE]
