Cook fires back as retailers block Pay

Apple Inc CEO Tim Cook fired back at CVS and Rite Aid on Monday after the drugstore chains blocked the iPhone maker's mobile payments service, saying there were plenty of other retailers around the world to sign up.

Cook argued on Monday that Apple Pay offered better security and privacy than competing services, and that retailers risked alienating customers by limiting choices at checkout.

"It's a skirmish," Cook said in response to a question about the retailers' moves.

"Merchants have different objectives sometimes. But in the long arc of time, you only are relevant as a retailer or merchant if your customers love you."