Then use Google Payment methods cause it's safer than this crap. Research everything that has come out about the whole process. The company's goal is to sidestep the credit card companies and their fees but this is doing it in an un-safe way to the user. They have full un-regulated access into your bank account.
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Apple Pay Rival CurrentC Launching in Limited Trial Next Month as Exclusivity Expires
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Then use Google Payment methods cause it's safer than this crap. Research everything that has come out about the whole process. The company's goal is to sidestep the credit card companies and their fees but this is doing it in an un-safe way to the user. They have full un-regulated access into your bank account.
And for everyone without an iPhone, Google Wallet is still superior to this mess that they are attempting.
I think only people on MacRumors even know what this is.
Daaang, this is far worse than just using cash or credit.
Yeah I figured they might [eventually] delete it, but it was my honest reaction having read the OP.
Google is your friend. But I give you the short version:
Paymit is a free transaction standard for any bank to adapt upon wish, no transaction fees (so far banks are generous), can make use of any available security features of existing systems as well as hardware features (like touchID), not bound to a specific device, not bound to a technology like NFC, not bound to credit cards, can be directly linked to bank accounts if banks wish to choose so. Currently designed for P2P but in strong evolution towards the commercial market (expected within a few months). Only three months since the initial release but with a huge momentum both on the customer as well as on the banks side, strong marketing here in Switzerland, will go internationally eventually. How does it work? Your phone becomes your terminal, on both sides of the transaction. One side types in the price you have to pay, the other pays. Same app, same UI, very easy. No additional middleman, no collusion between banks.
That is a practical solution.
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With the CVS breach, you think they would want something more secured for payments.
The wording of the title makes it a bit confusing - at first I thought Apple actually paid some company to start a trial for whatever their service is.
This isn't a battle between Apple Pay and MCX. It's a battle between using a NSF or other secure payment alternative for your credit card. Apple fans should be a fan of Android using a similar payment platform because the more overall customers there are asking for it, the more likely it is that merchants will see the value in implementing it.
MCX was never against Apple as much as they were credit card companies. They didn't want to pay the 2% markup and wanted to find a way to pocket most of it it as profit. (No way the savings were going back to the consumer.) But if they with none of the consumer protection and direct access to you bank account -it was never going to fly.
Thank you for the explanation.
I dislike "googling it" when someone brings something up, as I have been caught in too many discussions where we are talking about different things. The original presenter is talking about one thing, and my googling got to a different place, and so the discussion is a non-sequitorious nightmare.
So, rest well, knowing I know how to look things up on Google, and also that you have taught me about the Paymit program from your point of view. Now that we have a mutual basis for discussion, it can, if it does, proceed on a common understanding, without me thinking it was a Android only solution, as when I did look it up, all I saw was that for the first three pages.
A cheaper iPhone?
Seeing that this is an Apple Centered site, there is kind of an echo chamber effect going on here.
So what are Currency's plans for the rest of the world? My guess is nowhere. This has all the hallmarks of being a USA only solution. Perhaps someone should tell them that there is a world outside the 48 (ok 50) states.
This is what differentiates ApplePay from all the comptirion. They set out with a plan to roll this out all over the world. I really don't see the competition (even Google and Samsung) thinking big.
Shame really. Apple does need some decent competition.
I won't be using it even though my bank is one of the launchbanks here in the UK. I've even got replaced my NFC cards with non NFC ones. Paranoid? Yes. I have had my identity stolen so I think I'm justified.
This is what differentiates ApplePay from all the comptirion. They set out with a plan to roll this out all over the world. I really don't see the competition (even Google and Samsung) thinking big.
Shame really. Apple does need some decent competition.
I won't be using it even though my bank is one of the launchbanks here in the UK. I've even got replaced my NFC cards with non NFC ones. Paranoid? Yes. I have had my identity stolen so I think I'm justified.
This is yet another reason why this stinker is doomed before it begins. Google Wallet (now called Google Pay) has been around for years but did work a bit different in that it used NFC to charge the card in your google account (like purchasing apps would). The new Google pay is more like Apple pay with security and bank participation and will be used like Apple pay without having to actually open the Google Wallet app (its only shortcoming over Apple pay, but exactly what Current C will require whichi s funny, since Google is an example of why people dont use mobile payments as often when ou have to do that, in the time you open the app you could have just swiped a credit card.) Samsung pay might as well be Current C.
But you figure, 80% of smart phone users have an Android just under 15% an iPhone. (Though a large number of iPhones do not have NFC, like more than half in use, but once those people upgrade in the next year or two...) why would anyone bother?
Pretty much everyone with a mobile device will be able to use a phone to make payments in a much more elegant way, and stores can add support for their apps and loyalty programs through both apple or google. (Google might even run on windows phone.)
CurrentC is hopefully planning their bankruptcy filing
Most retailers now process checks as ACH transactions, so the money is instantly debited from the checking account. No way to write a bad check. It will simply reject it if the money is not in the account.
Though you're right, a debit card would be much easier.
It still takes a couple of business days though. First overnight to debit the customer and add a pending credit to the business' account, then the second overnight for it to post.
Your reply doesn't make sense. For one, there is only one iPhone generation that has Apple Pay. You would need an Apple Watch (which is a $400 additional cost) to have it work on a cheaper iPhone. Also, this is an Apple website, you're correct. But not everyone with an iMac or Macbook has an iPhone. I know plenty of Android only users who own MBPs and/or iPads.
But I do not agree that this service is a formidable alternative... Paypal, which currently doesn't NFC, but I am sure they will soon enough, is better than this service. As is Google Wallet.
The biggest advantage for the companies and disadvantage for consumers is that CurrentC links directly to your bank account. This is good for the companies because it bypasses the transaction fees charged by MasterCard/Visa/Discover, but bad for consumers because you lose a major layer of security.
It actually is kind of stealing, because the onus is on the cardholder to use reasonable means to secure the account information. I give the card to the cashier--they are not to take it from me.