CVS Stores Reportedly Disabling NFC to Shut Down Apple Pay and Google Wallet

[ptb42]

I think they don't like that they have no access to the credit card info.....

Actually, I think the appeal of MCX for them is the avoidance of merchant fees for credit cards. Instead of 2-3%, they pay a flat fee of about 25 cents for an ACH transaction.

Of course, you have to give them your checking account information, and grant them the authority to withdraw from your account.

 

[tmiw]

Really - so these stores won't accept credit cards - ONLY their own store cards?

Each transaction using CurrentC is one less that goes over Visa/MC/Discover/Amex. They don't even need to stop taking them altogether, just reduce their use significantly.

 

[bushman4]

CVS & RiteAid don't like the privacy that Apple has created with ApplePay . Meaning they can't sell your info
Shop where you have convenience and privacy. CVS is not the only game in town

 

[robjulo]

You need to go reread the post I was responding to and the "data" he was talking about.

Except it's your decision to swipe your Kroger card. CurrentC wants to take that choice out of your hands by "conveniently" making it the only "secure" payment option other than cash.

Hint: ACH debits are a security nightmare.

 

[Oracle1729]

Haha, yup. Buy it and immediately kill it.

Just like Microsoft used to do to destroy innovation they didn't like. The circle is complete.

 

[kevkmartin]

Now I have to laugh at some posts when re-reading this thread.



So it's not OK that some retailers are choosing to work towards eschewing bank fees to increase profits. But it's OK for Apple to take a % of every transaction through Apple Pay to increase their profits.



Forget about the security argument for a second. Because at the end of the day - these corporations are about profits.

It's OK, because that %that Apple takes ISN'T coming from the retailer's profits. It's coming from the credit card companies - who AGREED that the .15% cut Apple would take was WORTH IT to them for increased security and reduced fraud.

 

[diazj3]

The best part about them being in close proximity to each other? Going to CVS first, failing to use Apple Pay, let them watch you walk across the street into Walgreens and walk back with your purchase and get into your car in the CVS parking lot. That should speak volumes.

yes... yes... but do it slooooooooowly... and make them watch.



So, you think CVS employees will drop whatever they are doing, stop tending to other clients, go to the window, watch you walk across the street, wait until you buy whatever, and watch you walk back to your car?

And on top of that boredom, you want them to feel bad about... what, exactly? about you not shopping a bag of chips there?

Seriously?

You certainly think enough of yourself.

But credit where is due: this is the second most moronic idea I've heard today.



Cheers!

 

[Noble Actual]

Apple will soon have 70% of the functioning smartphone market in the US. That group probably earns 90% of the US income. I'm just guessing at this, it might closer to 99% or lower like 60%, but it is definitely a solid majority. But the point is, that if Apple takes CurrentC out of the App store, then it is done as an application. It will not be used as an Android App in significant numbers. Apple has a huge monopoly. The individual companies can't fight it. It will take government action. But that phase of this game is years down the road. It will stay further down the road if Apple continues to act nice. But Apple doesn't have to. It can end CurrentC anytime it wants.

Not to mention Google will also have no reason not to take out CurrentC on its Play Store. Its a direct competitor to Google Wallet.

I think Apple and Google would very much like to see the competition remain amongst themselves. They can kill of CurrentC easily. CurrentC right now and when it launches will just be an annoying fly on the wall, its a distraction that they can just kill off in a second.

 

[samcraig]

Apple will soon have 70% of the functioning smartphone market in the US. That group probably earns 90% of the US income. I'm just guessing at this, it might closer to 99% or lower like 60%, but it is definitely a solid majority. But the point is, that if Apple takes CurrentC out of the App store, then it is done as an application. It will not be used as an Android App in significant numbers. Apple has a huge monopoly. The individual companies can't fight it. It will take government action. But that phase of this game is years down the road. It will stay further down the road if Apple continues to act nice. But Apple doesn't have to. It can end CurrentC anytime it wants.

Last I checked, Apple only had 42 percent of the cell market

http://www.ibtimes.com/apple-leads-...while-samsung-phones-cut-iphones-lead-1651476

I'm sure they creeped up a bit with the iPhone 6 - but not close to 70 percent

 

[Ntombi]

Nobody knows the terms but there's no indication Apple is screwing anyone over. Why would they when they want retailers to adopt Pay?

Everybody knows the terms. At least, everybody who has done a modicum of reading on the subject, because it's been widely reported for weeks now.

Apple gets 0.15% of the bank's cut. The merchants pay nothing but the normal amount they've been paying to VISA, MasterCard, Amex, Discover (when they participate) all along.

 

[Dionte]

It stores can choose not to accept apple pay, apple can choose not to allow their apps in their App Store. Sounds fair.

 

[bobenhaus]

Apple will soon have 70% of the functioning smartphone market in the US. That group probably earns 90% of the US income. I'm just guessing at this, it might closer to 99% or lower like 60%, but it is definitely a solid majority. But the point is, that if Apple takes CurrentC out of the App store, then it is done as an application. It will not be used as an Android App in significant numbers. Apple has a huge monopoly. The individual companies can't fight it. It will take government action. But that phase of this game is years down the road. It will stay further down the road if Apple continues to act nice. But Apple doesn't have to. It can end CurrentC anytime it wants.

Yeah I think its time for the Government to start looking at Apple's business practices. Apple is starting to get too big .

 

[samcraig]

It's OK, because that %that Apple takes ISN'T coming from the retailer's profits. It's coming from the credit card companies - who AGREED that the .15% cut Apple would take was WORTH IT to them for increased security and reduced fraud.

But irrelevant. With retailers choosing to be part of CurrenC - they save millions a year.

So it's ok that Apple takes money from credit card companies, but not retailers?

If retailers want to take on that risk - that's their right and decision.

 

[3282868]

Now I have to laugh at some posts when re-reading this thread.

So it's not OK that some retailers are choosing to work towards eschewing bank fees to increase profits. But it's OK for Apple to take a % of every transaction through Apple Pay to increase their profits.

Forget about the security argument for a second. Because at the end of the day - these corporations are about profits.

Backup.

Banks take a certain percentage of transactional charges based on the particular retailer and what that particular bank agrees on (one of the reasons Square has done well, they have the lowest fees for merchants compared to JPMorgan Chase Bank, NA, Citibank, Citizens, etc). Apple Pay does not take a higher percentage [if at all] and no statement suggesting such has been claimed by the banks or Apple. The banks are covering the costs as it 1) saves them money from less fraudulent transactions with increased security via NFC, TouchID and tokenization 2) as no personal data is passed, only a one-time transaction token, credit cards do not need to be re-issued should another Target or Home Depot security breach occur.

As Apple Pay's securer [at this time] payment system will save banks money, the banks are covering the costs. Apple nor the banks have suggested there is a large [if at all] take on Apple's part. If there is, even that percentage is still less than what banks would lose in the current system.

Again, this is not an Apple Pay matter, this is a matter of MCX strong arming merchants into exclusivity through kickbacks as MCX sells consumer information to marketers. This is about stifling technological advancements with NFC systems. If you're seriously suggesting Apple is trying to monopolize the system, wrong. Apple Pay does not stop other forms of payment, it is another form in addition to what is currently available. According to security experts and banks, it is currently the most secure payment system available. The only reason MCX merchants are suppressing it is the strong arming of MCX, either play by their rules or lose your kickback.

 

[osofast240sx]

Good point.

The difference is these retailers are already excepting Visa and MasterCard

 

[kevkmartin]

But irrelevant. With retailers choosing to be part of CurrenC - they save millions a year.



So it's ok that Apple takes money from credit card companies, but not retailers?



If retailers want to take on that risk - that's their right and decision.

The credit card companies agreed to this, because - in the long run, a more secure payment system with far less fraud is good for their bottom line. I'm sure they did the math before they agreed to work with Apple.

 

[Oracle1729]

Not to mention Google will also have no reason not to take out CurrentC on its Play Store. Its a direct competitor to Google Wallet.

I think Apple and Google would very much like to see the competition remain amongst themselves. They can kill of CurrentC easily. CurrentC right now and when it launches will just be an annoying fly on the wall, its a distraction that they can just kill off in a second.

So you want to see companies that have huge dominance is the smartphone market use it to destroy competition and establish dominance in a new market segment.

You realize that is so harmful to the general public (like you) that it is actually illegal, right? But since you worship at the alter of apple, you hope for them to trounce your rights as a consumer.

I'm just glad nutjobs like you are such a minority that you don't really matter to anyone (least of all apple management).

 

[samcraig]

Backup.

Banks take a certain percentage of transactional charges based on the particular retailer and what that particular bank agrees on (one of the reasons Square has done well, they have the lowest fees for merchants compared to JPMorgan Chase Bank, NA, Citibank, Citizens, etc). Apple Pay does not take a higher percentage [if at all] and no statement suggesting such has been claimed by the banks or Apple. The banks are covering the costs as it 1) saves them money from less fraudulent transactions with increased security via NFC, TouchID and tokenization 2) as no personal data is passed, only a one-time transaction token, credit cards do not need to be re-issued should another Target or Home Depot security breach occur.

As Apple Pay's securer [at this time] payment system will save banks money, the banks are covering the costs. Apple nor the banks have suggested there is a large [if at all] take on Apple's part. If there is, even that percentage is still less than what banks would lose in the current system.

Again, this is not an Apple Pay matter, this is a matter of MCX strong arming merchants into exclusivity through kickbacks as MCX sells consumer information to marketers. This is about stifling technological advancements with NFC systems. If you're seriously suggesting Apple is trying to monopolize the system, wrong. Apple Pay does not stop other forms of payment, it is another form in addition to what is currently available. According to security experts and banks, it is currently the most secure payment system available. The only reason MCX merchants are suppressing it is the strong arming of MCX pay merchants for participation (either play by their rules or lose your kickback).

Ok - backup for a second. Isn't MCX, a company created by a consortium of U.S. retail companies to develop a merchant-owned mobile payment system?

How are they strong arming retailers if it's the retailers joining together to create the system. No one is forced to join the consortium. Are they?

----------

The credit card companies agreed to this, because - in the long run, a more secure payment system with far less fraud is good for their bottom line. I'm sure they did the math before they agreed to work with Apple.

And I'm sure the retailers have run their numbers too.

 

[Ray Brady]

So it's not OK that some retailers are choosing to work towards eschewing bank fees to increase profits. But it's OK for Apple to take a % of every transaction through Apple Pay to increase their profits.

Yep.

It is definitely NOT OK for a retailer to inconvenience their customers by deliberately cutting off a legitimate means of payment. Rule #1 of retail is: never make it difficult for people to give you their money.

It is definitely OK for any company to make money by providing a service that benefits consumers. Note that Apple Stores are not suddenly refusing to accept cash or credit cards.

 

[3282868]

Ok - backup for a second. Isn't MCX, a company created by a consortium of U.S. retail companies to develop a merchant-owned mobile payment system?

How are they strong arming retailers if it's the retailers joining together to create the system. No one is forced to join the consortium. Are they?

----------



And I'm sure the retailers have run their numbers too.

Merchants who participate in this system sell costumer data to marketers, they can't due this with anonymous NFC tokenization payments. Merchants have a choice. They can choose not to participate and lose the money MCX pays them based on transactions as MCX sells consumer info to marketers. That's the system.

Participating corporations have to decide: stick with MCX and abide by their rules by not accepting NFC payments or lose their percentage in sales from MCX and allow Apple Pay, Google Wallet, etc. Simple.

 

[flyinmac]

Now I have to laugh at some posts when re-reading this thread.

So it's not OK that some retailers are choosing to work towards eschewing bank fees to increase profits. But it's OK for Apple to take a % of every transaction through Apple Pay to increase their profits.

Forget about the security argument for a second. Because at the end of the day - these corporations are about profits.

Exactly. Cause we know Apple wouldn't have such interest in trying to become monkey in the middle for free "just to be nice and fight fraud".

In fact, if we listen to the preachers here, Apple has supposedly created a system that requires nothing of Apple, and still dumps all the work on someone else, and Apple gets a commission. Now that's definitely a profit based initiative.

You aren't going to convince me anything about Apple paying anyone to handle problems, interact with transactions, etc. Because all the preachers have assured us that Apple has no connection with the process and is not involved or responsible in the least.

Now that you've convinced us that we are blindly supporting Apple for doing essentially nothing, explain to me how this isn't about profit margins for Apple.

They've essentially developed a way to get paid for not doing anything. In fact, it's the consumer's devices doing the work. Yet Apple gets paid. That's genius marketing.

I'm gonna sell a computer to people. Then, after buying said computer, people will have their computers perform a task for another party. And I get paid for what their computer did.

Genius. And the the blind mice line up.

Now, you wanna convince me that Apple is doing this out of the kindness of their hearts, show me where they have given this away for the benefit of society and to stop fraud.

Nope, all about profit margins.

 

[ChrisA]

Start a protest movement

Start a protest movement:

1) fill a cart with about 50 items from all over the store

2) take cart to checkout and let them ring up all the items

3) try to use "Apple Pay"

4) when they say you can't use Apple Pay say "Oh that is all I have with me" and walk out and leave them to place all the items back on the shelves.

If this happens four times a day in every store they will accept Apple Pay very soon. It takes a lot of labor to "reverse shop" a cart full of stuff.

 

[oddnendz]

It stores can choose not to accept apple pay, apple can choose not to allow their apps in their App Store. Sounds fair.

And I can choose not to use CurrentC...

 

[bushman4]

This afternoon I saw a woman with a $83 order leave in on the counter when the clerk told her that they do not accept Applepay at CVS. GOOD IDEA!

 

[oddnendz]

But irrelevant. With retailers choosing to be part of CurrenC - they save millions a year.

So it's ok that Apple takes money from credit card companies, but not retailers?

If retailers want to take on that risk - that's their right and decision.

They only save millions if people use it....