Apple Pay vs Current C

Discussion in 'iOS 8' started by ajiuo, Oct 28, 2014.

  1. ajiuo macrumors 65816

    Joined:
    Apr 9, 2011
    #1
    I think Apple and Google could get together on this one and shut currentC down pretty easy... It's simple.

    Refuse to sale the currentC app in their app stores. If currentC wants to block NFC payments then Apple and Google can do the same thing. CurrentC needs Apple and android devices... The devices don't need currentC.
     
  2. Badrottie Suspended

    Badrottie

    Joined:
    May 8, 2011
    Location:
    Los Angeles
    #2
    I don't know. What are better benefit between two? Pro and Con? :apple:
     
  3. aristobrat macrumors G5

    Joined:
    Oct 14, 2005
    #3
    Two wrongs wouldn't make a right.

    Give full access to both to consumers, and may be the most popular method win.
     
  4. urkel macrumors 68030

    Joined:
    Nov 3, 2008
    #4
    ...or maybe Apple should give in to sharing the profits in order to reach a wider consumer base.

    I know that's not a popular choice but consider this. Th App Store and iTunes music are houses that Apple built so they made the rules when it came to how people can participate. But now Apple has to play in someone else's house and unfortunately their previous strong arm tactics don't apply.

    ApplePay is absolutely brilliant on every level (and I'm hating everything about CurrentC), but the one thing that can hold it back is retail adoption. As tough as people may sound when boycotting a major retailer, we really aren't ging to make a difference. And to be honest, that's not our job to. Apple is the one that has everything to gain or lose here so maybe their best choice is to buy their way in rather than shut themselves out.
     
  5. Cougarcat macrumors 604

    Joined:
    Sep 19, 2003
    #5
    There is no need, currentc will shut down itself with its convoluted process and privacy concerns.
     
  6. irnchriz, Oct 28, 2014
    Last edited by a moderator: Nov 5, 2014

    irnchriz macrumors 65816

    irnchriz

    Joined:
    May 2, 2005
    Location:
    Scotland
    #6
    CurrentC looks like it was designed for Windows CE. Apple Pay and Google Wallet etc are far more modern. Apple Pay is also simpler to use and does not share your info with the stores.
     
  7. newellj macrumors 601

    Joined:
    Oct 15, 2014
    Location:
    Boston, MA, US
    #7
    Pessimist. I can't think of any reason not to give a third party database that is accessed by hundreds of merchants information like my driver's license number and social security number. Are you really worried about privacy here???

    Just kidding, I hope that was obvious...
     
  8. Julien macrumors G3

    Julien

    Joined:
    Jun 30, 2007
    Location:
    Atlanta
    #8
    Missing the most important number to give....your bank account number.:eek:
     
  9. Armen macrumors 604

    Armen

    Joined:
    Apr 30, 2013
    Location:
    127.0.0.1
    #9
    Dear CurrentC customer,

    the MCX database was hacked. You may want to :

    1. Contact the IRS because it is most likely your SSN will be used for identify theft.

    2. Change your entire bank account number if there is any money left in there to begin with. (don't bother asking for the money back the bank can't help you it's gone)

    we apologize for the inconvenience to your LIFE but hey, you saved us 2% on transaction fees.

    P.S. Everyone knows you have diabetes now so we apologize for targeted ads you may receive now because of that.

    Sincerely,

    MCX
     
  10. Julien macrumors G3

    Julien

    Joined:
    Jun 30, 2007
    Location:
    Atlanta
    #10
  11. newellj macrumors 601

    Joined:
    Oct 15, 2014
    Location:
    Boston, MA, US
    #11
    My memory is...random... ;)
     
  12. btkadams macrumors member

    Joined:
    Sep 6, 2012
    #12
    it will crash and burn on its own. remember that nfc is widely used outside of the us, and currentc is (from what i have read online) us-only. apple pay is going to have nice penetration worldwide and it will be further ammo for these companies to use the more global nfc standard. and that's not even mentioning the fact that currentc looks like an irritating system to use with privacy issues. i doubt people will be very welcome to it.
     
  13. caesarp macrumors 6502a

    Joined:
    Sep 30, 2012
    #13
  14. ,,,, Oct 28, 2014
    Last edited: Oct 28, 2014

    ,,, macrumors newbie

    Joined:
    Oct 21, 2014
    #14
    You guys are all making fun of CurrentC, but at least they don't store the credit data on a tiny dedicated chip on ip6/6+ logic board like Apple does.

    If a thief happens to get a hold of your ip6, all they need is a walnut cracker or a decently sized stone to be able to bust open that chip and extract your credit card data with a pair of tweezers.

    Edit: come on guys, it's clearly sarcasm
     
  15. oddnendz macrumors 6502

    oddnendz

    Joined:
    Feb 6, 2007
    Location:
    Raleigh, NC
    #15
    *facepalms* They don't store any credit card data the Secure Card. And you know something.... Someone takes my credit number and uses it .... no problem, the bank takes the charges off.

    Someone hacks CurrentC and gets my checking account information, they can wipe out my checking and saving account. And I am not reimbursed or made whole by the bank.

    Break it down for you:

    Credit number taken = Bank takes the liability
    checking/saving acct wiped out by CurrentC hack = I have to take the liability.
     
  16. noisycats macrumors 6502a

    noisycats

    Joined:
    Jun 1, 2010
    Location:
    The 'ham. Alabama.
    #16
    Not sure if serious?

    ----------

    Apple makes .15% out of the bank's already established cut on each transaction. Do you really think the consortium went through all the trouble to reduce the bank charge by .15%? Do you think that will satisfy the merchants?
     
  17. nikicampos macrumors 6502a

    Joined:
    Jul 23, 2011
    #17
    That was hilarious and not so far from distant future.

    I don't even think they will launch this CurrentC or at least not without some changes.
     
  18. iamMacPerson macrumors 68030

    iamMacPerson

    Joined:
    Jun 12, 2011
    Location:
    AZ/10.0.1.1
    #18
    IDK, I see Apple/Google possibly getting slapped with a lawsuit over this if they block the app. I think MCX is their own worst enemy, considering it was created by a big retailer (Walmart) and a lot of other big retailers (Target, CVS, Rite Aid) are colluding to make it the only service accepted in their stores. I'd like to quote this article from DailyTech in which they quoted Lee Scott, Walmart's Former CEO:

    This tells me Walmart wants to try and kill the card companies. The government isn't going to like this. I see an anti-trust lawsuit coming soon. Plus the fact that to even use the service they need not only you bank account number and drivers license number, but also your Social Security Number the government and everyday people won't like that either.

    Apple Pay:

    Pros:
    • Touchless NFC Payments
    • Uses Credit Cards, Not ACH for charging so you get the same Fraud Protection if ever needed
    • Card Numbers are Stored locally on iPhone encrypted and never backed up (like TouchID)
    • More Secure (TouchID or 4 Digit Pin Code to authorize)
    • More User Friendly

    Cons:
    • Only works in-store on iPhone 6/6 Plus and Apple Watch

    CurrentC:

    Pros:
    • Compatible with Older iPhone Models without NFC

    Cons:
    • Requires Social Security #, Bank Account #, and Drivers License # to use
    • All three numbers are stored on MCX's Servers, not locally
    • Uses ACH to make payments, meaning your (more then likely) liable for fraud
    • Not as user friendly (instead of a fingerprint scan, it needs you to either scan or show a QR code the cashier to make the payment)
     
  19. njchris macrumors regular

    njchris

    Joined:
    Sep 14, 2007
    #19
    And the 5, 5C and 5S in conjunction with the Apple Watch.
     
  20. Solomani macrumors 68030

    Solomani

    Joined:
    Sep 25, 2012
    Location:
    Alberto, Canado
    #20
    Why does one system need to "win"?

    Do you realize that there are at least 4 major American credit card systems for the last 20 years, and they have all co-existed together? Amex, VISA, MasterCard, and Discover. Four major systems, and consumers get a choice which one they want to use.

    I'd be perfectly happy in the future if both Apple Pay and CurrentC are accepted forms of payment everywhere.
     
  21. TheColtr macrumors regular

    Joined:
    Feb 1, 2014
    Location:
    California
    #21
    You left out the best part! With CurrentC your SSN, bank account number, and DL numbers aren't stored on a little chip on the phone, but rather in the impenetrable cloud!
     
  22. Ntombi macrumors 68040

    Ntombi

    Joined:
    Jul 1, 2008
    Location:
    Bostonian exiled in SoCal
    #22
    Say what, now?

    ----------

    The other pro for CurrentC is the savings to the customer in the form of targeted coupons and 5% back (in the beginning). That's the big shiny carrot they'll be dangling to distract from the big stick of lack of privacy and security.
     
  23. navodwickra macrumors 6502

    navodwickra

    Joined:
    Aug 24, 2013
    Location:
    Leeds, UK
    #23

    Card numbers are not stored anywhere on the phone. They store a security token in exchange of the card details.
     
  24. Solomani macrumors 68030

    Solomani

    Joined:
    Sep 25, 2012
    Location:
    Alberto, Canado
    #24
    And it's already month-old news that Apple Pay (along with its credit card partners like VISA and MasterCard) plan to offer a loyalty reward program. Of course there will also be carrots and incentives to use Apple Pay and to get it off to a strong usage start. It's a brand new system, so it makes sense for them to offer added incentives and perks for people to start using it.

    Apple could offer loyalty rewards for mobile payments

    ----------

    Sadly, the people quick to dismiss how Apple Pay works are exactly the people who do not yet comprehend what "tokenization" is.
     
  25. JediZenMaster macrumors 68000

    JediZenMaster

    Joined:
    Mar 28, 2010
    Location:
    Portland,Oregon
    #25
    I don't see an issue with CurrentC honestly and considering there is a large amount of people who have iPhone's that cannot support apple pay or even on a broader scale non iPhones that can't support NFC. The consumer wins either way.

    If there is a consider about information being data mining of information then why use the internet to begin with?

    There are room both both players and if CVS or rite aid or whoever do not take apple pay then. Why not go somewhere else?
     

Share This Page