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

[samcraig]

Would be fun to go to CVS and just put a bunch of stuff in your cart and have them check you out and try to pay with apple pay and when they tell you they don't accept apple pay just be like "oh well never mind then. I'll go to Walgreens"

Over 1800 posts and you're the very first person to suggest such an amazing idea

 

[caesarp]

So how is CurrentC any different than giving CVS or these retailers your personal plastic debit card to swipe and purchase products? Both a debit card and this CurrentC app are both linked to your checking account. What's the difference?

OMG. Read the thread. Do we have to spell it out for you. CrappyC sux for many reasons. Not just ACH use.

 

[Miles Teg]

Go to iTunes and give a review of the CurrentC app

https://itunes.apple.com/us/app/id912922036?mt=8

 

[caesarp]

I think for many, it is the issue. My opinion.

That would only make sense if they were upset at any retailer who did not now install NFC. Which is not the case.

 

[gavroche]

Stolen credit cards cost you nothing, while a new phone will cost you a lot of money. I see your not in a habit of making smart decisions.

A stolen credit card costs us nothing?!?!
I won't even bother trying to explain how fraudulent use costs do end up getting passed on eventually to consumers. You will never follow or understand or agree with that.
But are you seriously going to maintain that a criminal getting ahold of a lot of your personal information, which can be used to steal your identity, has no effect or cost on us? Try talking to anyone who has had their identity stolen, and ask them if they think it cost them nothing, or was not big deal! A+ for completing not thinking that one through. And add on that the complete hassle of having to update all of your accounts that reference your card number for payments. I just got a new card, and I had to go in to like 20 different accounts and change method of payment. That time is valuable to me.

 

[Tech198]

Would be fun to go to CVS and just put a bunch of stuff in your cart and have them check you out and try to pay with apple pay and when they tell you they don't accept apple pay just be like "oh well never mind then. I'll go to Walgreens"

Yes, it would be upsetting, but the fact is, that's what they choose to do..

They clearly deceived their customers by introducing something they had no intention to keep for a certain period.

The same people would also get upset if everyone did it to them in their favorite pharmacy.

The problem is as clear as day.

I think the bigger thing i find more fun here, is most people just choose to not even know that. I'm having a ball here

 

[iososx]

Epic Failure?

Apple Pay may appeal to iPhone lovers, but it's ultra high cost and timing may be it's downfall. Check out this article:

"Chip and PIN Cards. Every credit card in the U.S. will be replaced by October 2015 with new cards that contain the chip-and-PIN technology that the rest of the world has had for years, according to the Wall Street Journal.

Both Visa and MasterCard are committed to the switch, which will render extinct the plastic in your wallets and purses right now."



http://www.businessinsider.com/chip-and-pin-credit-card-changeover-in-2015-2014-2

 

[mantan]

Would be fun to go to CVS and just put a bunch of stuff in your cart and have them check you out and try to pay with apple pay and when they tell you they don't accept apple pay just be like "oh well never mind then. I'll go to Walgreens"

Several people have already posted this d-bag approach throughout this thread. And it's been slapped down as immature, infective and pointless each time it's brought up...not 'fun'.

 

[ptb42]

So how is CurrentC any different than giving CVS or these retailers your personal plastic debit card to swipe and purchase products? Both a debit card and this CurrentC app are both linked to your checking account. What's the difference?

Most banks have zero-liability policies for their debit cards. They aren't required by law, but banks are offering them to satisfy consumer's concerns about the issue. It all comes down to whether you trust your bank.

There are no such protections for ACH transfers. If you authorize someone to withdraw from your checking account, you are trusting the merchant. If the merchant abuses that trust, you have to convince the merchant to resolve the issue. Under the law, the bank doesn't have to restore lost funds, unless it happens again AFTER you report fraud.

 

[Solomani]

which nobody ever used, and has zero shot of ever being widely used.

I don't have an iPhone 6, and like most everyone, I already know about Apple Pay and what it can do. Merchant Customer Exchange? I never even heard of it until MR broke this story. LOL.

CVS made a dumb decision if they locked themselves into a contract exclusively tied down with MCX. Just from the numerous big-shot brand endorsements alone (e.g. MasterCard, VISA, Amex, Citibank, Chase, BofA, etc) Apple Pay already has momentum and a huge headstart in 2014 alone! And MCX? It won't even go live until at least 2015, assuming it gets half the star-endorsements that Apple Pay has. Totally dumb decision, CVS. But hey that's their choice. Can't crucify them for making a choice. But we can opine and postulate that they made a decision they will likely regret.

 

[mantan]

Apple Pay may appeal to iPhone lovers, but it's ultra high cost and timing may be it's downfall. Check out this article:

"Chip and PIN Cards. Every credit card in the U.S. will be replaced by October 2015 with new cards that contain the chip-and-PIN technology that the rest of the world has had for years, according to the Wall Street Journal.

Both Visa and MasterCard are committed to the switch, which will render extinct the plastic in your wallets and purses right now."



http://www.businessinsider.com/chip-and-pin-credit-card-changeover-in-2015-2014-2

I don't think you're getting the issue. The credit card companies are supportive of Apple Pay because it's another secure way to make cc payments. Whether it's EMV or NFC - it is still complies with the upcoming guidelines and encourages credit/debit card use.

There is no 'ultra high cost'....it's built in the current cc processing fees. Visa/MC/AMEX were happy to cut Apple into their current fees because it encourages more use of their products.

 

[diegogaja]

Actually, it doesn't support credit cards. Only debit and bank accounts.

So, just reading up on the CurrentC idea. It's pretty slick in terms of you loading loyalty cards, reward cards, etc and with one scan, 3 or 4 different things can happen: Coupons get applied, Rewards get deducted, Loyalty gets accrued and Payment occurs from not just credit / debit, but also checking acct as an option.

That said, I still think they're shooting themselves in the foot by attacking their perceived competition in this way. Also, I'm not sure I want to store my payment information in their "secure cloud vault". Seems like a recipe for disaster.

 

[kalex]

Okay guys I'm getting confused, I need a list of all the companies we hate.

We hate
Samsung
Google
Microsoft
Bose
CVS

Who else, I can't keep up.

I forgot U2

Add Apple

 

[gavroche]

Unlike most of you brainwashed Cook heads, I will shop with whoever has the best prices. And that is not Walgreens.

Two questions for you:

Will you still shop at that cheapest store when eventually they stop accepting magnetic strip credit/debit cards? Will you stick to your guns at that point?

Do you still use checks? You do realize that when credit/debit cards came out, many stores did not accept them. They did not want to install the terminals, etc. Same arguments for not adopting NFC. And people said at that point the same thing you said now... i'll just keep using my checks. Right up until the point that more and more stores stopped accepting checks. Eventually (most) everyone made the change.

Mock it all you want. And try to make it an Apple issue. It's not. I strongly recommend you go back through the forum postings and read all the comments made by people that live in countries other than the US. NFC is quite prominent in many of those countries.

 

[caesarp]

This article phas it right ... In the long run CVS will revert to NFC

CVS and the other CurrentC companies will almost certainly use the system exclusively for a relatively short time. If, as most observers expect, customer demand for NFC-based systems like Apple Pay grows rapidly, these retailers are not going to adopt a “my way or the highway” attitude with their customers. They have learned that when it comes to technology, it’s a consumer-driven world and they just live in it. And one other thing retailers have — or should have learned — is not to underestimate the power of Apple in the consumer world.

Read more: CVS Follows Rite Aid, Shuts Off Apple Pay - Apple Inc. (NASDAQ:AAPL) - 24/7 Wall St. http://247wallst.com/technology-3/2014/10/26/cvs-follows-rite-aid-shuts-off-apple-pay/#ixzz3HGZI32lz
Follow us: @247wallst on Twitter | 247wallst on Facebook

 

[TechGod]

I know that, please excuse my mistake. Again, if retailers could get the 0.15% from the credit card companies instead of Apple, why wouldn't they pursue this? I would say 90% of people on this forum want Apple's wealth to thrive, instead of their own. If Apple gets a monopoly on mobile wallets, we're all doomed .

WTF? Google Wallet is also disabled...not just Apple Pay.

 

[JAT]

Apple Pay may appeal to iPhone lovers, but it's ultra high cost and timing may be it's downfall.

What cost? They've made deals with the banks and Visa (etc) to get a portion of the already-in-place-for-decades credit card fee. And the chip cards can just be loaded into your phone, too. Retailers that need to upgrade hardware for NFC also need to upgrade it for chip.

 

[MrX8503]

The only way to avoid credit card fees is not to take credit cards. I doubt that MCX merchants will stop honoring credit cards. In fact, I will use my credit card more often just to piss them off .... if I have to go their store.

Retailers are trying to reduce their fees any way possible with CurrentC.

This isn't a battle between CurrentC and Apple Pay. This is a battle between MC/Visa/AMEX and the merchants who are trying to get around paying cc fees. Apple is just a pawn (bishop, knight) in this battle.

The credit card companies are happy to have Apple Pay be at the forefront of this issue because (as evidenced by this thread) their customers will quickly grab the torches and pitchforks to defend Apple (and indirectly those same cc's). That's why they were very happy to quickly cut them in for a piece of the cc processing pie.

Nope. CC companies are happy to have Apple because Apple isn't against the use of CCs. The pie Apple is getting is 15c for every $100....thats a crumb, not a piece of pie.

The reason Apple Pay will succeed is because it's easy to use for consumers. CurrentC was created for the retailers resulting in a clunky payment method that won't be ready till a year from now. As much as I hate CC companies, CurrentC is screwed.

 

[Rogifan]

Apple Pay may appeal to iPhone lovers, but it's ultra high cost and timing may be it's downfall.

Source?

 

[gavroche]

I also love how rude people want to be.

This has Louis CK written all over it. People pissed about something they couldn't do a few days ago anyway.

Hey - if you're an Android user - at least you have some history with payments being accepted. But if you're introduction to NFC payments is via iOS 8.1 - you, quite honestly, sound like a spoiled brat.

Please stop telling people what they should and should not want. You have absolutely no right.
It's about wanting us to catch up to a good part of the rest of the world that already has NFC, and already has far more safe and secure payment methods.
With comments like yours, i very very much hope and demand that once NFC becomes the norm here, that you keep on using checks ore magnetic strips. This technology should be denied to people like you.
Ridiculing people that want something better. Find a better hobby than Apple bashing.

 

[Max(IT)]

Some fail to realize that the world doesn't revolve around Apple either.

Actually when technology is involved, Apple is one the most important player around.

 

[samcraig]

I don't think you're getting the issue. The credit card companies are supportive of Apple Pay because it's another secure way to make cc payments. Whether it's EMV or NFC - it is still complies with the upcoming guidelines and encourages credit/debit card use.

There is no 'ultra high cost'....it's built in the current cc processing fees. Visa/MC/AMEX were happy to cut Apple into their current fees because it encourages more use of their products.

No. The credit card companies are in it because it reduces their potential for fraud. Not because it encourages more use of their products. If Apple Pay didn't exist, people would still use cards as much as they do - but the CC companies would continue to have fraud issues they may not have any longer (in #s) because of things like Apple Pay.

For the CC companies - there is a higher cost of the transaction - but they believe (and it's likely so) that the amount they save in fraud is well worth that added cost.

 

[Treq]

So it had nothing to do with fast indexed searching?

Only as a pretext to get your data. It is how google makes its money. I even had a Google programmer confirm the email scanning, and their use of it a few years ago. This is old news by the way.

 

[ptb42]

Apple Pay may appeal to iPhone lovers, but it's ultra high cost and timing may be it's downfall. Check out this article:

"Chip and PIN Cards. Every credit card in the U.S. will be replaced by October 2015 with new cards that contain the chip-and-PIN technology that the rest of the world has had for years, according to the Wall Street Journal.

Both Visa and MasterCard are committed to the switch, which will render extinct the plastic in your wallets and purses right now."

http://www.businessinsider.com/chip-and-pin-credit-card-changeover-in-2015-2014-2

First, there is no "high cost" for Pay, unless you consider the cost of the iPhone. The merchant fees are no different. The issuing bank pays only a small amount to Apple, and that will likely be completely offset by eliminating certain kinds of fraud.

However, this article is largely wrong about chip-and-PIN. It's true that most consumers in the US will get chipped cards in the next year. However, they will be almost universally chip-and-signature. You will still have to sign a receipt. Some banks are adding a PIN to the card, but are making it a secondary form of authentication. So, only unattended terminals will ask you for the PIN.

Even the cited WSJ article says: You’ll still be signing for the time being, but the new system also enables the use of PIN numbers, if card issuers decide to add them to their cards.

A few banks are making PIN the primary form of authentication, but it may make things a bit difficult for some merchants, like restaurants. Unless they use portable terminals with a PIN pad, the customer won't be able to enter a PIN. Portable terminals are widely used in Europe, but not in the US. It will be interesting to see if restaurants change their operations in the next year to support it.

 

[gavroche]

Didn't read thread.. too long.. but this is one of the reasons Apple Pay will never really take off.

I disagree, for two reasons. First, every major change in payment method use took time to adopt. Do you think that credit/debit card use appeared overnight? How long do you think it took for a majority of stores to accept it? And second, while NFC is very obscure in the US, it is very common and widespread in many other parts of the world. The US is quite behind. For both this, and for mobile phone plans/costs.