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Chase Launches 'Chase Pay' Payments Service to Compete with Apple Pay
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Did they upgrade to something like this Verifone terminal or Ingenico terminal? Both of those seems to be ones that get upgraded to the most and they support NFC by default. They might decide not to include that in the graphic, but the NFC might be enabled. I'd try to pay with Apple Pay anyway.
(Yes, I can't count how many times I tried to wave my phone in front of the terminal just for fun.)
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Edit: Did some Google and their terminal does! http://www.tbo.com/news/business/publix-prepares-to-switch-to-smart-card-system-20150218/ ... but I sense that they disabled it though. Oh well.
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The merchant should be required to put an NFC logo on the screen if the payment is accepted by the terminal-- that is something that should be in the merchant/Amex/Visa/MC/Discover agreement.
Good to know. I really hope it's well-enforced. I think my local Roche Bros does not display NFC logo though ...
Also, I have seen some places that does not have NFC logo but they have four circles (like this one) on it. If you have used NFC you probably know that it means they can take NFC, but if you haven't you wouldn't know ...
So, yeah, I just try using Apple Pay everywhere I go if I know the terminal can support it. If it doesn't I'd just think I waste 10 seconds, and move on to take my card out of my pocket.
It's not well enforced. My local Byrne Dairy and Speedway are supposed to take NFC according to the MasterCard nearby app, and neither display the logo on their machines.
By abandoning, do you mean closing your Chase credit card? From a credit history advice perspective, that wouldn't be the most prudent thing to do.
I received this tweet from Chase customer service:
@matchavez We have no plans to stop supporting Apple Pay. Please reach out if we can help with any account questions. ^DS
I just thought that was interesting....
@matchavez We have no plans to stop supporting Apple Pay. Please reach out if we can help with any account questions. ^DS
I just thought that was interesting....
Retailers ever getting anything payment related right? Hahahahahahaha.
The hardware might have NFC support, but most retailers are not bothering to enable it. Which makes me wonder why the hell they didn't try to buy a terminal without said support (they do still sell those).
Most of them are Ingenico terminals. No NFC oval like your linked picture shows. Publix is "evaluating its options to best serve its customers" regarding mobile pay. Sounds like bs to me, I'd bet they're just waiting to see how long they can delay enabling Apple Pay, and if MCX gains traction.
That's the whole point. This is a thread about a payment method.
Only as a method of paying for things quickly at a register but yes, it was inferior in that specific task.
1. If they were smart, they built/chose their back end to be payment-type agnostic when they decided to support NFC. If that is true it was probably pretty trivial to do this.
2. Look at all the banks that still don't support Apple pay. They aren't going under overnight, or for that matter at all. Not one bank has probably felt a pinch that couldn't be chalked up to hundreds of other reasons for not supporting Apple Pay. No bank has closed its doors because of a exodus of Apple-loyal customers. Not one. Of course the banks that do support Apple Pay probably had a few people switch to them, again, not enough to probably make them look like they had a spectacular quarter or a surge in new customers worth reporting. Apple pay alone isn't going to make Chase better/worse than everyone else.
3. Is Apple Pay for everyone? No. By its very nature it isn't available to everyone. If you are not Apple and only want the "people with Apple Pay"'s business and no others, you're not going to make as much as someone who accepts all kinds of payments. You don't cut out customers like that unless your irrational. Heck even Apple still takes other forms of payment... For now.
4. Chase hasn't stopped supporting Apple Pay. Nor have they made a single suggestion they will.
Here is what being "Apple Only Because All Else Sucks" causes you to miss:
Chase supporting more payment options is very good for them. If #1 is true, it probably cost them very little (I'd even bet that MCX might have shared the R&D costs just to have a real solid banking partner with the way things are going). Low costs and a possible new stream to tap? win-win. Even if it cost as much as Apple Pay. If some banks can show they made money, more will follow. Chase supporting new payment methods might loosen up the rest of the industry to methods we haven't even heard of yet that could be better.
Amazon (largest retailer) and Walmart (second largest retailer), like them or hate them, still do not take Apple Pay and I don't see that changing. There are people that will probably try this MCX garbage out at places like Walmart and like it. That may cause them to "discover" how [somewhat] easy contactless is and possibly try options like Apple Pay (that are easier yet) in the future. Sounds like a possible win for Apple Pay if there is a measurable conversion rate on that. (If Apple Pay is so good and perfect, then there should be a considerable conversion rate, right?)
2. Look at all the banks that still don't support Apple pay. They aren't going under overnight, or for that matter at all. Not one bank has probably felt a pinch that couldn't be chalked up to hundreds of other reasons for not supporting Apple Pay. No bank has closed its doors because of a exodus of Apple-loyal customers. Not one. Of course the banks that do support Apple Pay probably had a few people switch to them, again, not enough to probably make them look like they had a spectacular quarter or a surge in new customers worth reporting. Apple pay alone isn't going to make Chase better/worse than everyone else.
3. Is Apple Pay for everyone? No. By its very nature it isn't available to everyone. If you are not Apple and only want the "people with Apple Pay"'s business and no others, you're not going to make as much as someone who accepts all kinds of payments. You don't cut out customers like that unless your irrational. Heck even Apple still takes other forms of payment... For now.
4. Chase hasn't stopped supporting Apple Pay. Nor have they made a single suggestion they will.
Here is what being "Apple Only Because All Else Sucks" causes you to miss:
Chase supporting more payment options is very good for them. If #1 is true, it probably cost them very little (I'd even bet that MCX might have shared the R&D costs just to have a real solid banking partner with the way things are going). Low costs and a possible new stream to tap? win-win. Even if it cost as much as Apple Pay. If some banks can show they made money, more will follow. Chase supporting new payment methods might loosen up the rest of the industry to methods we haven't even heard of yet that could be better.
Amazon (largest retailer) and Walmart (second largest retailer), like them or hate them, still do not take Apple Pay and I don't see that changing. There are people that will probably try this MCX garbage out at places like Walmart and like it. That may cause them to "discover" how [somewhat] easy contactless is and possibly try options like Apple Pay (that are easier yet) in the future. Sounds like a possible win for Apple Pay if there is a measurable conversion rate on that. (If Apple Pay is so good and perfect, then there should be a considerable conversion rate, right?)
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I don't understand the point of this. I have to show them the QR code to scan rather than just tapping for NFC?!?!? To get the QR code I may have to use a different app based on the retailer?!?!?! It's complicated, therefore it will fail, unless they are giving me some cashback bonus of some sort I'd rather just use Apple Pay.
NFC is no more or less secure than QR codes. It's not the medium that makes it secure. It's the cryptographic signatures that make it secure.
You can argue about whether or not QR code based secure payment systems are convenient or not. And you can argue about whether the backend security (on both ends) is trustworthy or not, but you could run the Apple pay protocol with bullhorns across the parking lot and it would still be secure, and there's no reason to believe the QR based systems don't fundamentally work the same way. The biggest issue I would have with them from a security standpoint is that (at least on iOS devices) third-party schemes won't be able to leverage the secure element.
At present line item detail isn't passed into a payment transaction, the card based systems just simply aren't built to take that. Wallets however CAN get that detail if they want it as it comes from the retailer, it means the wallet can be built with more loyalty stuff in mind, but i don't believe this functionality has been built on any of the wallets yet.
This is my gut feel where things will go in the next 18 months, with a combination of beacons in stores, wallets providing data back to merchants for fraud, marketing etc, while the consumers get's a better experience or discounts or whatever.
People will do all kinds of stuff for a free pen.... Watch this space.
Edit - just to add, the wallets online can get this now, but the wallets in store need to be passed the line item info into the wallet, it could work but again i don't think anyone has built this yet, it would need to work with till systems so it's complex.
Apple Pay just uses NFC, which is an open standard. There are no UX standards for though, so retailers do all sorts of things. Like continuing to ask for a signature/PIN. Or require the customer to explicitly say they want to use Apple Pay before the terminal's even turned on. It's not a seamless experience for customers right now.
There is a lot of fixation on the QR code aspect which is understandable but don't forget that MCX/CurrentC was designed to collect as much personal information as possible for marketing purposes. I think that is a greater concern as they have already been hacked.
That's never really stopped retailers in the past, as we've seen with Target and Home Depot. That data is sadly worth more to them than security or customer convenience.
I appreciate the feedback. I assume by 'wallet' you mean either an app that you identify yourself with (Kroger, Kohls, etc) or loyalty cards? Yes I figured the store-specific apps are a means for the retailers to build a profile on repeat customers, which is why I do not use them. I actually make Kroger give us a new loyalty card with each visit and toss it in the bin on the way out. I do recognize there are tons of customers who will bark for the merchant if it means 20 cents off a tube of toothpaste, to each their own I suppose.