Retailers can do what they want.
If they want me to shop there, then they'll have to support Apple Pay. Beyond deciding where I'll do my shopping, I have no input into the decisions they make.
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CVS Stores Reportedly Disabling NFC to Shut Down Apple Pay and Google Wallet
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If they want me to shop there, then they'll have to support Apple Pay. Beyond deciding where I'll do my shopping, I have no input into the decisions they make.
I might also ad - as part of reading more about this - that the MCX consortium announced their intentions back in 2012. Before Apple had TouchID - and likely, before Apple started negotiating for Apple Pay.
Which leads to an interesting discussion that is reminiscent of how Apple entered the ebook market. Now I am not saying Apple colluded there or here. What I am saying is that Apple likes to go into a market, and obviously own and control it as much as possible in their favor. It's good business.
With MCX having already been in the works, Apple no doubt saw the writing on the wall for Google and other payment systems (ISIS, etc). Hence their negotiations with the banks. Smart business. Smart solution.
So now we have this "battle" between retailers and NFC payment options. If enough retailers join the consortium. I don't see how consumers will be able to refuse to shop at all of them.
Personally - I think businesses should (unless their are significant costs vs benefits) encourage as many options for their customers as they can.
Which leads to an interesting discussion that is reminiscent of how Apple entered the ebook market. Now I am not saying Apple colluded there or here. What I am saying is that Apple likes to go into a market, and obviously own and control it as much as possible in their favor. It's good business.
With MCX having already been in the works, Apple no doubt saw the writing on the wall for Google and other payment systems (ISIS, etc). Hence their negotiations with the banks. Smart business. Smart solution.
So now we have this "battle" between retailers and NFC payment options. If enough retailers join the consortium. I don't see how consumers will be able to refuse to shop at all of them.
Personally - I think businesses should (unless their are significant costs vs benefits) encourage as many options for their customers as they can.
Great thanks again apple. so I've been using Google wallet for about a year now at cvs and riteaid with no issues. Apple pay comes along and its NFC is dead in 5 days. So now google wallet users are casualty of war between apple and morons at CVS and Rite aid waiting for another ****** useless standard to come along which is not even ready.
Why not let users use it until your own system is ready then switch. Now their MCX is still vapor yet they stopped accepting other valid payment methods. Whoever came up with this great idea needs to be fired on the spot
Why not let users use it until your own system is ready then switch. Now their MCX is still vapor yet they stopped accepting other valid payment methods. Whoever came up with this great idea needs to be fired on the spot
How many times does this need to be said in this thread. There is no cost difference for the retailers. This cost is strictly between the issuer and Apple.
The retailers are more threatened by Apple Pay because it anonymizes transactions, and they lose customer data. Just read what's on MCXs web site:
Apply Pay can't offer this to merchants. It's bad for merchants but good for customers.
No, it's not. The merchant doesn't pay a dime to Apple. Apple gets its fee from the issuing bank. If you pay with
Pay, or pay with exactly the same physical credit card, the merchant's fee is exactly the same.However, MCX doesn't allow use of a credit card for payment. It requires you to provide your bank's routing number and your checking account number, and grant the merchant authority to withdraw from your account.
So, the merchant doesn't have to pay the 2-3% fees for a credit card -- ANY credit card. Instead, they pay about 25 cents for an ACH transfer.
I see your point. But I don't necessarily agree with all of your premise or outcomes.
"If Im reading this right, and I think I am, these retailers who are shutting down their NFC payment systems are validating that Apple Pay is actually working, that people are actually using it. And remember, it only works with the month-old iPhones 6. Think about what happens a year or two from now when a majority of iPhones in use are Apple Pay enabled.
Think about what theyre doing. Theyre turning off NFC payment systems the whole thing only because people were actually using them with Apple Pay. Apple Pay works so well that it even works with non-partner systems. These things have been installed for years and so few people used them, apparently, that these retailers would rather block everyone than allow Apple Pay to continue working. I cant imagine a better validation of Apple Pays appeal.
And the reason they dont want to allow Apple Pay is because Apple Pay doesnt give them any personal information about the customer. Its not about security Apple Pay is far more secure than any credit/debit card system in the U.S. Its not about money Apples tiny slice of the transaction comes from the banks, not the merchants. Its about data.
Theyre doing this so they can pursue a system that is less secure (third-party apps dont have access to the secure element where Apple Pay stores your credit card data, for one thing), less convenient (QR codes?), and not private.
I dont know that CVS and Rite Aid disabling Apple Pay out of spite is going to drive customers to switch pharmacies (Walgreens is an Apple Pay partner), but I do know that CurrentC is unlikely to ever gain any traction whatsoever."
What would be even greater is if that particular CVS didn't shut off their NFC and the "protester" either winds up paying hundreds of dollars for items he didn't want or need, or, more likely, look like a jerk for getting the entire amount refunded or walking away (if the transaction didn't go through).
I'd pay good money to see that happen to an Apple fanboy.
I see retailers panicking because they can no longer track your credit card information!
The idea of "multiple retailers" developing their own mobile wallet is REALLY DUMB (for lack of better terminology). Not only would I NEVER trust CVS or any other wimpy retail company with my information, but it proves that they rely on spying on your info to thrive.
This is generally why I waited on iPhone 6 - knowing that Apple Pay would take time to fully develop. However, whomever does not implement the technology within the next year - I will find alternatives to them.
The idea of "multiple retailers" developing their own mobile wallet is REALLY DUMB (for lack of better terminology). Not only would I NEVER trust CVS or any other wimpy retail company with my information, but it proves that they rely on spying on your info to thrive.
This is generally why I waited on iPhone 6 - knowing that Apple Pay would take time to fully develop. However, whomever does not implement the technology within the next year - I will find alternatives to them.
Except, CVS is making the conscious choice to turn off NFC, which means NO phone, even Android with Google Wallet or others, will be able to use it. NFC is a standard across most smartphones, and this MCX consortium is making their retailers turn it completely off.
CVS Stores Reportedly Disabling NFC to Shut Down Apple Pay and Google Wallet
it is time for the CC companies, VISA, MC and AMEX, to strong arm CVS and the others. The CC's are doing this to save money from CC fraud. I think CurrentC motive is consumer info to sell.
it is time for the CC companies, VISA, MC and AMEX, to strong arm CVS and the others. The CC's are doing this to save money from CC fraud. I think CurrentC motive is consumer info to sell.
Come back when you have a valid argument.
There is a cost difference for retailers. Because if they use MCX, they are not paying credit card transaction fees. Do you understand that much and have you read anything about how CurrenC works? If not - back away from the keyboard and read.
Retailers, of course, want to mine data so they can increase their sales. That's call smart business. We can argue all day on whether a consumer wants that or not. In some ways I find it creepy. In other ways - I appreciate when I get a bunch of offers I am interested in because a retailer knows my shopping habits.
me worship at the altar of Apple, really??? Have you not been reading this thread?
1) this not just an Apple matter, but a Google wallet matter.
2) this about NFC, so again just NOT Apple.
3)Currentc takes YOUR CHECKING ACCOUNT INFO AND BANK ROUTER INFO AND SAVES IT IN THE CLOUD. No credit cards are involved. It is a security and privacy issue and a play to injure Visa and Mastercard at the expense of the consumer.
4) You have less rights under the law if money is stolen from your CHECKING ACCOUNT. Basically, you are SOL if you money is stolen from your checking account.
5)The merchant gets access to whatever you buy to shove ads in your face. Other for inventory purposes, they should not have to than data .... unless you are stupid enough to sign up for CurrentC.
NFC doesn't care how, what, where or when you buy things. That is good for the consumer, bad for the merchant. CurrentC is all about the merchant, not the consumer.
And the minute CVS gets hacked because they're storing numbers. You'd be whining.
Holy crap, what did I just read?
So Apple and Google dominate the smartphone market? They already destroyed BlackBerry but I guess since that's the same market it doesn't count right?
They already killed off so many markets its not even funny (mp3, camcorder, netbook, etc.) They're about to go into the wearable market, but wait, that's illegal right because they're going to be successful. They're going into the mobile payment market, but that's illegal because MCX is the new kid in town. They should just play nice.
MCX is forcing retailers to take off Apple Pay/Google Wallet support. There's no logical reason why Apple and Google should support MCX.
MCX has the opportunity to make its own app store and phone and they will probably learn the importance of customer experience, security, and privacy along the way as well as learning not to ruin retailers and customers attempt to shop in the war against Visa, MasterCard, and American Express.
But hey, this is capitalism at its best. Just going to sit back and let the customers and the market dictate where mobile payments go. I think most educated and reasonable customers will realize how bad MCX really is.
Did not read beyond first sentence because its starts making less and less sense.
Why the hate? This is a personal decision. So each person has their own feelings about their level of privacy. Live and left live.
Who said I would be using that app to pay? I actually prefer not to use my cell phone for banking transactions of any kind.
No, that's not entirely accurate.
You fund your Google Wallet with either a credit card (if you're smart) or your bank account (if you're dumb).
When you pay with Google Wallet, Google pays the merchant through MasterCard, and then charges you that amount.
So there are a few differences:
1. Google maintains your financial information. If they get hacked, all Wallet customers are at risk. With Apple Pay, your issuing bank holds it, and compromise of one bank only affects that bank's customers.
2. Any programs you belong to that link purchases made with your credit card to rewards like uPromise and Fuel Rewards Network won't work, since they never see your card being used.
3. Google sees what you bought, where you bought it, and most likely either sells that data or uses it for more targeted ads - which may offend some folks from a privacy perspective.
4. There were (and still might be - I don't know - anyone?) handset and carrier restrictions on who could even use Google Wallet on the Android side.
I haven't looked into how secure Wallet might be from a tokenization perspective, but I presume it's well thought out; Google is pretty good with security.
Both, of course, are likely much better than swiping your card, using an EMV/Chip & Pin card, or - God help you - CurrentC.
I've deleted all the bank apps from my phone. The less places I have my banking information saved the better I guess.
You realize that MCX is a consortium of these retailers. They don't have to be in the consortium. I'm not defending them - but at the same time, these retailers made an agreement to "unionize" against the credit card companies. So if the "rules" of being in the consortium is that they do x or y, that's on them. They CHOSE that.
By October, 2015, you'll be inserting your chipped card in a terminal everywhere in the US, except perhaps pay-at-gas-pump terminals (they have until 10/2017).
After that time, any merchant that still uses a mag-stripe reader accepts responsibility for any fraudulent transactions.
Actually, I use my sister's card. I get the specials without having deal with the data theft.
As for coupons.... my dad used to try his damnest to explain to my sister and I the concept that sales are just a con job by merchants. They hike the price, then put it on "sale" to get you to buy. I think coupons is just a extension of that con job....
All it would really take is for the credit card companies - which are on board with Apple Pay - to say "you either accept payment by our cards through Apple Pay, or you don't accept payment by our cards at all". I imagine the NFC terminals would be back on in CVS and Rite Aid the next day, and be getting rapidly installed almost everywhere ASAP.
It seems that this will become a moot point next year, when merchants are required to support "chip and PIN" transactions or face significantly increased fees from the CC companies. If "chip and PIN" works, so should other NFC payment solutions.
It seems that this will become a moot point next year, when merchants are required to support "chip and PIN" transactions or face significantly increased fees from the CC companies. If "chip and PIN" works, so should other NFC payment solutions.