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Apple Pay Competitor CurrentC Detailed as Convoluted System With Minimal Consumer Benefit

deputy_doofy said:
CurrentC is a great example of a "for programmers, by programmers" product.
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I take serious offence with that. The problem is (a) mad requirements from upper management what data they want collecting, and (b) the mad requirement that the NFC hardware and the standard software in each NFC terminal mustn't be used. Probably some mad requirements for hardware cost; bluetooth should have been capable of creating a less clumsy implementation.

Anim said:
The google store is doing just as well too.

https://play.google.com/store/apps/details?id=com.currentc
Click to expand...

No surprise. So they managed to piss off all the iPhone users (there are few iPhone 6 owners now, but _everybody_ wants an iPhone 6), PLUS all the Android users. Keep going, people, there are some Windows Phone and Blackberry users that aren't annoyed yet!
 
IJ Reilly said:
Fair enough, and thank you for the most complete explanation yet. So that leaves only the other two exaggerations.

The point being, this is a battle between Apple + the credit card companies + some big merchants against other big merchants. They are both going to have their selling points. Talking about this as if it was already game-over or some kind of moral or ethical debate is ridiculous. They all want something from us.
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You are a ray of sunshine..... Not to mention cynical....
 
jcbauerca said:
As posted by macduke on another thread:

Late 2014: Rite-Aid and CVS stopped accepting Apple Pay
Late 2015: Use our corny sounding "CurrentC" system! Don't worry about it collecting your private info!
2016: Rite-Aid and CVS retail sales slipping behind competitors Walgreens and others that accept multiple payment systems because they actually want customers to buy things.
Early 2017: Data leak at Rite-Aid leaves customers information vulnerable, customers of CVS worried about their data as well
Mid-2017: CVS switches support for Apple Pay back on
Late 2017: After leaks and slumping sales, the CEO of Rite-Aid steps down, acknowledges removing support for Apple Pay was clearly the wrong choice and takes full responsibility. The damage has been done and Rite-Aid files for bankruptcy, closing more than half of their stores as they reorganize in key markets.
Click to expand...

I think they are going to reenable it the minute the exclusivity contract with currentC runs out.
 
As easy as Apple Pay and Google Wallet are to use there are many people reluctant to use it because it seems complicated to them. Current C it way complicated and will crash and burn because it's way too complicated for the avreage consumer. On to of that who in thier right mind is willing to divulge their personal sensitive information amidst the hacking of big companies these days? It baffles me to think someone actually thought this was a good idea. RIP Current C
 
bawbac said:
I don't see any convenience to using NFC other than technical bragging rights. Cash is more secure than all other methods!
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Secure in terms of your transaction with the merchant? Yes. However, cash offers no security in the event that it's lost or stolen.
 
Wow

The obamacare version of mobile payment systems. I guess the plus is, they've got your bank account #'s and your SSN and name all in one place so now a hacker/identity thief has everything they need in a one-stop-shop to steal your identity. Thanks CurrentC!

So the retailers skirt the 3% fee. That's their benefit. What's my benefit to use this? Especially for iPhone 6 users. I guess that QR payment app will look "beautiful" on those 4.7 and 5.5 inch screens. Is that their benefit?
:rolleyes:
 
IJ Reilly said:
I did not say that. I said in CurrentC, "finding" and "opening" the app are the same step.
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But it's not. "Finding" implies taking time to scroll through screens or folders, "opening" is the waiting for it to open. I guess you can call that all one or everyone could make it the most accessible app to save some time, but compared to not even unlocking your phone, it's lots of seconds. They claim that it is faster than current payment methods, which is not true. Whereas Apple Pay might actually be faster than a card swipe, barely.

The hilarious part is that you have to scan QR codes twice, which the OP actually left out of the list.
 
B2k1977 said:
So the retailers skirt the 3% fee. That's their benefit. What's my benefit to use this? Especially for iPhone 6 users. I guess that QR payment app will look "beautiful" on those 4.7 and 5.5 inch screens. Is that their benefit?
:rolleyes:
Click to expand...

Their benefit is

  • They don't pay 2-4% of the transaction to Mastercard.
  • Consumers are liable for any fraud instead of them.
  • They get personal information, purchase information, and health information which they can data mine to be more successful.

Your benefit is theoretically convenience (even though CurrentC's QR code system is much less convenient than CurrentC), plus offers/coupons/discounts. How this pans out given how negative their upsides are to the consumer, I am skeptical.
 
One big quote I remember from Cook at the Keynote in September:

"...most people that have worked on this have started by focusing on creating a business model that was centered around their own self interests, instead of focusing on the user experience."

His statement couldn't be a better description of this ugly, kludgy, insecure mess. This initiative needs to just die.
 
Tubamajuba said:
It may be convoluted, insecure, and of little benefit to consumers...

...but it's not Apple. Which makes it an instant win for the people that hate the idea of others wanting to use Apple Pay.
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This CurrentC non-sense is doing one thing that nothing else could. It is uniting iOS and Android users in their fight to continue using NFC. What affects Apple Pay also affects Google Wallet.
 
jpmd70 said:
You said:
Originally Posted by jclardy View Post
CurrentC:
1. Unlock phone
2. Find CurrentC app
3. Launch CurrentC app (same step) <- wrong
4. Hope you have adequate signal in concrete walls of the store (also required for Apple Pay) <-wrong
5. Hold phone up to scanner (also required for Apple Pay) <-wrong

Have you used :apple:Pay?
1. Hold iPhone near NFC device.
2. Put finger on Home Button.
3. Done.
Click to expand...

Actually its even less steps than that for Apple Pay:

Hold iPhone near NFC device WHILE finger is on Home Button (ta dah - done).

1 step for Apple Pay if using default card.
 
andy9l said:
As I went underground at London Waterloo this morning and saw thousands of people pay via NFC using their debit, credit and Oyster cards, I couldn't help but think what a shame it is that Apple didn't start here, in the UK, where NFC has been the norm for so long - especially in London.

I'm sure there's a valid reason - I trust the decisions of the most valuable company in the world over my own naive view. But it does seem wasted in the States.
Click to expand...

I think you're kinda answering your own question with your statement. About 10 years ago in the US, PayPass and PayWave were introduced. While I love them, there was some mass-hysteria surrounding them and a lot of issuers pulled them. So Apple is entering a fresh market, offering to accomplish the same thing NFC cards offered, with an eye on taking over the wallet with convenience of contact-free.

In London, if I already have a contact-free wallet that can do this, then all I have to sell to you is the idea of carrying less on your person. I'm not quite sure that's enough to make the dent they're, presumably, looking for.
 
IJ Reilly said:
Fair enough, and thank you for the most complete explanation yet. So that leaves only the other two exaggerations.

The point being, this is a battle between Apple + the credit card companies + some big merchants against other big merchants. They are both going to have their selling points. Talking about this as if it was already game-over or some kind of moral or ethical debate is ridiculous. They all want something from us.
Click to expand...

The battle is between Visa/MC/Amex (and discover*) and the merchants.

Apple (and Google Wallet) is on the side of the credit card companies. Merchants want to reduce/eliminate their fees to these merchants, hence MCX and CurrentC.

*Discover is just as much a target of the merchants, but they aren't on the Apple Pay side yet.
 
jcbauerca said:
As posted by macduke on another thread:

Late 2014: Rite-Aid and CVS stopped accepting Apple Pay
Late 2015: Use our corny sounding "CurrentC" system! Don't worry about it collecting your private info!
2016: Rite-Aid and CVS retail sales slipping behind competitors Walgreens and others that accept multiple payment systems because they actually want customers to buy things.
Early 2017: Data leak at Rite-Aid leaves customers information vulnerable, customers of CVS worried about their data as well
Mid-2017: CVS switches support for Apple Pay back on
Late 2017: After leaks and slumping sales, the CEO of Rite-Aid steps down, acknowledges removing support for Apple Pay was clearly the wrong choice and takes full responsibility. The damage has been done and Rite-Aid files for bankruptcy, closing more than half of their stores as they reorganize in key markets.
Click to expand...

This is all realistic, except "the CEO of Rite-Aid steps down". OK, I suppose they are not going to go bankrupt over this.
 
Its probably already been said, but why don't Apple refuse to allow this app in their App store.
 
I would've loved to have been a fly on the wall in the MCX/CurrentC offices the day that Apple Pay was announced last month. I bet the execs had to go down to CVS and Rite Aid to buy a lot of medication that day. Shame they couldn't even use their own system to buy the stuff.
 
bawbac said:
I don't see any convenience to using NFC other than technical bragging rights. Cash is more secure than all other methods!
Click to expand...

I disagree. If I get mugged on the street, the money falls out of my pocket, or I get incorrect change (in the merchants favor) and don't notice, I, as the consumer, am out that money.

If I get mugged and a credit card is stolen, I drop it and it is used, or the merchant charges the incorrect amount-- I call my bank, and I am not liable for any of things (as long as I let the bank know within a reasonable amount of time). I get my money back.

....and using a credit card usually offers additional protections as well (extended warranty, theft protection, etc) and has rewards.

Apple Pay, Google Wallet, and similar things add benefits to the bank by lowering their exposure to fraud, and I think it's slightly more convenient to use my phone to pay vs the plastic card enclosed in my wallet. Lowered fraud costs could ultimately lead to lowered exchange fees, interest, or increased rewards.
 
IJ Reilly said:
Fair enough, and thank you for the most complete explanation yet. So that leaves only the other two exaggerations.

The point being, this is a battle between Apple + the credit card companies + some big merchants against other big merchants. They are both going to have their selling points. Talking about this as if it was already game-over or some kind of moral or ethical debate is ridiculous. They all want something from us.
Click to expand...

No it's the merchants against the credit card companies. The merchants do not want to pay the credit card companies a transaction fee. CurrentC/MCX wants to use Automated Clearing House (ACH) to process their transactions. And the only way to use Automated Clearing House (ACH) is to give the mechant your Bank/Checking Account number, Social Security Number, and Drivers License number.
 
coopguy said:
They save 2-3% in magswipes and in return get to data mine your every purchase. They pay more in the discount then they'd pay for the swipes. Using greater information from payment methods that let them more easily identify more information about individual consumers is one way in which retailers like Target find out you're pregnant before you even know it yourself.

You save money on the paper discount, but your privacy is up in smoke.
Click to expand...

They data mine your every purchase anyway by linking your CC# to your purchases, unless you use cash.

My only point was that their system of bypassing the fees, is more beneficial to them, and me, then the CurrentC system.
 
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