CVS, Rite Aid discontinue taking Apple Pay

Apple Pay launched last Monday and it appears some major retailers are trying to take a bite out of the tech company's business.

Over the weekend, Rite Aid and CVS quietly disabled Apple Pay from their stores nationwide.

They haven't specifically said why, but industry insiders suspect the companies are working with a group of large retailers like Walmart and Target to develop their own mobile wallet by next year, which could save them money on fees to credit card companies.