Apple Pay

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The latest fruit of Apple's labor could leave a bad taste in your mouth.

Apple pay launched October 1st and CEO Tim Cook is singing its praises. But according to Forbes magazine the celebration might be premature. Apple Pay is a wireless system where owners of the iPhone six and six plus can make purchases though a payment terminal. All you need is your credit card information and thumbprint.

Within a week of its release Cook announced that Apple Pay had more users than competing programs combined. But now the fruit might be getting a little rotten. This week CVS and Rite Aid announced they have disabled their Apple Pay software, that's a loss of almost 13,000 stores.

Forbes says they won't be the only ones and there are four reasons why. For example Apple Pay doesn't save retailers any money. They still have to pay transaction fees to credit card companies. For more reasons why Apple Pay might not pay off for businesses or your personal security click the link below. You can't always trust the first bite.