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CurrentC Alerts Users of Unauthorized Access to Email Addresses
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As long as its PCI-DSS compliant people will store as much as they can, Apple included. Whether "they" store it or their vendor does, it doesn't matter. Its all in the way you market the product right!
Apple Pay is great BTW I just hate how people on this website acts as Parrots.
I admittedly know far less than you on the technological aspects of these payment systems but I believe you are focusing on the security of the payment transaction itself and missing the point of the overall concern with MCX. In light of the data breaches with Target and Home Depot, and now this with MCX that will certainly hit the fan, how are they ever going to get users to sign up for the service, requiring they hand over their SSN, DL, Bank Account Info, etc? Doesn't all that have to be stored somewhere (in the cloud, as they say)? And isn't all that prone to attack? Maybe it's the safest, most secure method that has or can ever be produced to remotely store sensitive data, it's just too hard a sell right now to the average Joe.
Somehow, I doubt a sizeable portion of Apple's sales are done through Walmart.
But my guess, Apple isn't that petty.....and I bet they get a good deal on store space (local Best Buy Apple rep told me Apple doesn't pay a dime for their space in Best Buy while all other OEMs - Samsung, Microsoft - do).
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Congratulations! We're all thrilled for you
For what? To sell lower-end iOS devices? Surely Target will be happy to fill that void.
Yes, but have you seen the Walmart cashiers and customers? I don't think they could manage much more of them fancy doo-daads fer makin' payments and such. Best go on back from whence you came from.
Nope, mostly still low tech swipe-and-sign. There are retailer "incentives" to go to chip-and-pin or at least chip-and-sign by October 2015, but this CurrentC system is designed to sidestep that entirely by having customers instead sign up for direct debit from their checking accounts. The fact that it gives them tons of personal information they can use for data mining purposes, as well as to sell to aggregators such as Acxiom who resell it to other retailers is just a bonus.
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But DOES Apple need them? They usually sell the cheap iPhones there like the 5c...I bet they don't sell any maxed out models there.
It's impossible to know how their technology works because they haven't divulged any details.
And you are presuming that a group of retailers will bring to bear the same expertise in transaction security as the financial industry - which is far from certain.
My point is none of the info is stored the way most of you think. The payment processing world isn't just a few servers talking to each other. Most of the servers are hosted elsewhere and are talked to through Middleware/API. With my bank we don't see 95% of the info you key in it goes directly to our MW server and on to the processor in a Token, very similar to Apple but its the older generation. Also, when you get a bank account you hand over all the info, when you apply for a CC online you give all that info. Applying for a CC online with a SS is more dangerous than this by a long shot, especially because FICO's system is crazy complex.
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There are STRICT regulations in this industry regulators know everything because we are only allowed to do a few things.
Clerks will now be offering free credit monitoring service with each purchase using CurrentC.
LOL.
"Sir, would you like the extended warranty with that TV? It's only $299 for three years. You will also receive complimentary LifeLock service as long as your personal information is on file with us. Thank you for choosing CurrentC."
Removing their products from Walmart only hurts the consumer, really. It isn't going to accomplish much.
Makes perfect sense and hopefully this will happen soon. From what I've read however, the problem is the credit card company's partner retailers don't want to spend the millions of $$$ to overhaul the antiquated credit card systems currently present in the U.S.
This "war" between 
Pay and CurrentC is really off to an astounding start. Kinda like the U.S. going to war with an ant hill. Never mind the ease of use for customers using Pay, we care about security now. We care because our information keeps getting hacked from retailers. Now we have a choice, at least when it comes to some of our payments, to give the retailer even more of our information and give our account numbers, social security number, and driver's license number to a third party....or iPhone 6 or 6 Plus owners can use Pay that does none of that. This is not even a serious competition. Then this happens!
Pay and CurrentC is really off to an astounding start. Kinda like the U.S. going to war with an ant hill. Never mind the ease of use for customers using Pay, we care about security now. We care because our information keeps getting hacked from retailers. Now we have a choice, at least when it comes to some of our payments, to give the retailer even more of our information and give our account numbers, social security number, and driver's license number to a third party....or iPhone 6 or 6 Plus owners can use Pay that does none of that. This is not even a serious competition. Then this happens!Huh?
When you swipe your REDCard, the 16 digit account number on your card has zero correlation to your actual checking account information. It's essentially a token.
When you pay with Apple Pay, the account number your iPhone uses has zero correlation to your actual credit/debit account information. It's essentially a token.
Seems like Target has implemented exactly what you're chastising them for.
I wonder if Apple would somehow "persuade" a hacker to do this for the negative press of CurrentC so the backers are almost forced to accept Pay.
Pay.
You are completely missing the point of why people aren't ok with CurrentC.
Throw all the techno-babble you want out there, it doesn't change this fact:
As a society, we are comfortable giving certain information to certain people/companies. Retailers generally can get our CC/Debt Card and address - things that don't carry a big risk (given the fraud protection on those cards).
Big name retailers have been hit with major data breaches over the last year. And now a company (comprised of many big retailers) that wants you to hand over data you previously have never handed over to a retailer has been compromised (doesn't matter how big).
Apple Pay works in the customers' eyes because we're not giving up any more information than we already give Apple - our CC info. Essentially, they've taken the information they already have and have utilized some of the most secure technology to create a fast, easy, secure payment method out of it.
Again, if MCX could take the information we're comfortable giving them and do the same, that's great. The problem is, their goal has nothing to do with you or I - its about saving THEM money. The customer is a secondary or tertiary thought in the process.
I'm not saying Apple isn't getting something out of Apple Pay (and the banks/CC companies love it for the reduced fraud risk and dollars they save there), but its evident the customer experience was at the top of the priority list when they were building this out.
and your car company (unless you drive a Ford) didn't invent automobiles...whats the point?
if you do not like a slamming currentC then go to a Another thread. nobody is going to care about your expertise in the industry or whatever it's not relevant. CurrentC is a enemy to Apple that's all that matters.
not to mention ACH bank account info
The article should mention at the end that CurrentC does not actually use credit card numbers. It uses ACH bank drafts - meaning that somewheres the customer's bank account information is being associated with the purchase.
The article should mention at the end that CurrentC does not actually use credit card numbers. It uses ACH bank drafts - meaning that somewheres the customer's bank account information is being associated with the purchase.
Which is why they'll either pay for the upgrades or pay the fraud protection dollars when they assume the risk of the magnetic strip card swipes.
Retailers are all bent out of shape over the up to 2% per transaction fees they pay. Yet how many BILLIONS are spent by banks and CC companies to protect customers from fraud originating from those antiquated/insecure payment systems those retailers still use.
Can't seem to find an article, but I was told CC companies are saving TONS of money by getting on board with Apple Pay because of the extra security and limited fraud risk. You really don't have to look any further than the fact that all these banks and CC companies jumped on board and are promoting it like crazy.
Thanks for your condescension. Whether I know how the technology works or not is actually irrelevant - this is about consumer confidence. If they can break the window (an easy target) they can also figure out how to get inside. Yes, it may take more than a script - but I'm pretty certain there are some dedicated hackers in the world that don't stop with just a script....kiddie.