Instead of accepting Apple Pay, Neiman Marcus is going its own way.
The luxury retailer has teamed up with Capital One to create a mobile wallet for its credit card customers who use iPhones, according to The Dallas Morning News.
Called NM Mobile Wallet, the iOS application will integrate with Neiman Marcus, Bergdorf Goodman, Visa, MasterCard, American Express and Discover cards. Like Apple Pay, it will allow customers to make in-store purchases without the presence of an actual credit card. In its present incarnation, the NM Mobile Wallet is not able to be used in conjunction with gift cards.
When Apple Pay was launched last summer, Neiman Marcus opted not to get on board with it, instead developing its own competing platform. According to The Dallas Morning News, the NM Mobile Wallet app is actually compatible with more versions of the iPhone than Apple Pay, as it is able to run on those older than the Apple iPhone 6, unlike the phone’s namesake mobile wallet.
Apple Pay is arguably the most visible wallet at the moment, but it has not been so successful as to rule out the possibility of competing applications to stake their claim in the field.
Neiman Marcus is not alone in going against the Apple Pay grain and venturing into the mobile wallet game on its own. Starbucks, the report points out, was the first major brand to successfully do so, and other retailers and brands such as Wal-Mart, 7-Eleven, Exxon Mobil and Southwest Airlines all presently have some type of self-standing mobile payment system in development.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More