Anything is safer than magnetic strip. For me the security part is not as important as the convenience part, as credit card companies protect you from fraud anyway. I will say that ApplePay uses a MasterCard standard (that's the reason that it worked out of the box) which is proven to be secured.
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CVS and Rite Aid Officially Disable Apple Pay Support At Stores Nationwide
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Anything is safer than magnetic strip. For me the security part is not as important as the convenience part, as credit card companies protect you from fraud anyway. I will say that ApplePay uses a MasterCard standard (that's the reason that it worked out of the box) which is proven to be secured.
Not really. If I was the next customer in line, it would annoy the hell out of me. Then when I hear the reason, I would assume other people are going to do it, so I would avoid CVS and just go to Walgreens.
However, in reality I would be at Walgreens already as I am an iPhone owner. But maybe there are some Android owners... wait, they can't use the NFC payment system either... Okay maybe there are some blackberry or Windows phone owners that would feel the same way. Then all ten of those customers will end up at Walgreens too...
Yeah, this does not seem like a very practical way of handling business. I don't shop at these stores anyways, but this doesn't help them to get my business either.
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I think he was referring to CVS and Rite Aid and not Apple.
If people wouldn't have realised that ApplePay "accidentally" works as well, they may not have disabled NFC altogether ..
Antitrust, not likely. Banking laws, not likely. But credit card merchant agreements? Ding ding ding ding ding!
Effectively, they're rejecting payments made with whatever card is backing up ApplePay. There's one thing that merchant agreements do require - If you accept Visa, you'd better accept every Visa card, unless Visa or the bank say, "charge declined."
From the beginning, Merchant Customer Exchange (MCE) has been an attempt to cut the banks, Visa, MasterCard, Amex and the gateway processors out of the equation - it'll be very interesting to see how that shakes out. The battlefield is every consumer carrying bits of plastic, rather than the handful who have an iPhone 6 or 6 Plus. Strategically, if you know you'll be going to war in six months with the entire banking and payments industry, is it wise to get bogged down in guerrilla war half-way around the world?
MCE is a debit card, tied to a customer's checking account. There are enough trust issues with that already. Now, instead of having a positive consumer spin when they roll out the product - "Sign up, we'll save you money and give you goodies," their first message in the public eye is, "You're not welcome here." Considering the makeup of the group they just angered, MCE may as well hang out a sign that says, "Proudly Cooperating with the NSA Since 2015!"
The retailers are going to beat a hasty retreat. The public does have a short attention span, so the sooner we stop talking about it, the more likely MCE will succeed when they finally roll out their service.
I'd ask if you're an attorney, but better that you don't answer that here. I am writing an email to request exactly what you said. Thank you for this.
Ok, when just about every major retailers gets together and conspires to take a joint action, that is intended to create a one and only mobile payment system, and their membership includes a requirement that members not accept ANY OTHER system in their stores, so as to prevent any other system from ever getting traction and being able to compete with the proposed system, what would you call that?
How many people use PayPal as compared to credit cards? Good luck getting rid of people buying on credit, MCX. The only way their mess of a system takes off is if they bribe people to use it with coupons and discounts. But even that will be a nightmare to implement. You go to Walmart and there's two prices for everything? Or when you check out with the MCX app you get a discount? And if you don't have your phone with you or don't own a smartphone you're SOL?
Not the U.S.' fault that your country is still backwards. I would take NFC thank you than count quarters
I think he was providing context about how the rest of the world works. As much as I like my iPhone 6. I think the phrase "First world problems" would apply to this situation
I'm not sure it falls under collusion if the retailers are still accepting credit card payments.
Good for you! I think a quote is in order here:
[QUOTE="Sam Walton, Founder of Wal-Mart Stores Inc. (est. 1962)]
There is only one boss - the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.[/QUOTE]
Still you didn't point out any flaw in his theory, only that it doesn't come from a lawyer. This is a fallacy, since not being a lawyer doesn't mean your theory is wrong just as being a lawyer doesn't mean your theory is right.
The suggestion to notify the DoJ is sound, even were his theory incorrect: it's their job to evaluate it and either discard it or act.
I'm surprised that Visa/MC/Amex don't have something in their T&C's requiring merchants to accept all forms of their cards that they have the technology to accept. And maybe even a clause requiring them to prefer the most secure protocol they can take.
For instance after I got my new chipped Corporate Card and used it at my local Wal-Mart, I swiped it but a message on the terminal required me to insert the chip instead. Was that Wal-Mart's policy or Visa's that required that? Wouldn't the credit card companies also want the retailers to use their NFC terminals if they have them? Also weren't most of the terminals marked with PayWave or PayPass symbols of Visa & MC? I would think that maybe the credit card companies would assert that they had subsided the installation of the terminals in exchange for displaying the logos and accepting NFC. ApplePay is just another form of using their cards and the card companies have all signed on with Apple.
Perhaps that's what the MasterCard spokesman meant in the NYT article when he said he "looked forward" to the functionality being turned back on.
For instance after I got my new chipped Corporate Card and used it at my local Wal-Mart, I swiped it but a message on the terminal required me to insert the chip instead. Was that Wal-Mart's policy or Visa's that required that? Wouldn't the credit card companies also want the retailers to use their NFC terminals if they have them? Also weren't most of the terminals marked with PayWave or PayPass symbols of Visa & MC? I would think that maybe the credit card companies would assert that they had subsided the installation of the terminals in exchange for displaying the logos and accepting NFC. ApplePay is just another form of using their cards and the card companies have all signed on with Apple.
Perhaps that's what the MasterCard spokesman meant in the NYT article when he said he "looked forward" to the functionality being turned back on.
wow, that phrase is getting popular regarding this issue.
sometimes, the 'First World' initiates changes that affect the rest of the world eventually. if this is the future of digital payments, adopting mostly Walmart initiated payments that mine your data, purchases, and CC info instead of one like the one Apple is putting forth, well - if you can't foresee the future being quite different under both scenarios i'm at a loss for many additional words i could use. polite ones, i suppose.
Right there with you brother/sister...its going to be more inconvenient, but I'll vote with my dollars till they see the light.
Here's my question...if retailers accept credit cards how can they not accept Pay or Google Wallet? I can understand with small businesses where implementing NFC capable terminals could be very expensive. But if CVS accepts Visa and my Visa card is now my phone instead of a little piece of plastic how do these big retailers get away with not accepting it? Because they're not shutting off credit cards. They're shutting off contactless payments.
The collusion is on mobile payments not credit card payments. MCX is anti credit card.
And this is where Federal antitrust regulators may step in. In effect, it's a form of illegal tie-in to deliberately shut out competition, something prohibited under the Sherman and Clayton Antitrust Acts.
One reason why every time I make a PayPal payment that I take the time to manually change the funds source from their default of my bank account to my credit card instead. Takes about 30 seconds longer every time, but I want the extra protection my card gives.
Better management. Target (like Home Depot, Dairy Queen, Staples etc.) had a recent huge security issue with customers credit card data (end of last year - who wants retailers to get access to your checking acounts with CurrentC?) and don't want to piss them off further (so far, their management isn't so shortsighted as CVS/Wrong Aid) and loose more sales.
I will reward Target for as long as their management allows customers to pay how they like (i.e. NFC).