Only in America...
US law allows the credit networks & banks to transfer liability to merchants that refuse to update to more secure standards.
You guys are sick!
This is a petty lawsuit
I can't even go to mom and pops restaurant without cash
Should we sue them?!
I'm not sure this is going to fly. As the merchant, they have every right to accept whatever form(s) of payment they wish and they're contractually obligated to MCX to have "exclusivity", which is (probably) legally no different than accepting Visa/MC but not AmEx or Diner's Club.
I'm not sure this is going to fly. As the merchant, they have every right to accept whatever form(s) of payment they wish and they're contractually obligated to MCX to have "exclusivity", which is (probably) legally no different than accepting Visa/MC but not AmEx or Diner's Club.
An example: if CVS were to suffer a data breach in the coming months (which, let's face it, is not crazy), an impacted customer in a town where CVS is the only pharmacy around could demonstrate that they WOULD have used ApplePay to pay for her prescription drugs, which would have insulated her from the attack had CVS not capriciously disabled its own ability to accept that form of payment. An individual in such a situation could then be used by the courts to create a class of individuals ("people with capable devices who attempted to use ApplePay at a CVS between 10/24 and present") who could claim damages as well.
It's not crazy in the slightest.
Most class action lawsuits are BS, but technically there is merit here.
The two companies seemingly colluded to block Apple Pay even though they had previously allowed transactions from it's competitor, Google Wallet. Yes, they can decide what forms of currency they want to accept, but they can't do so simply to harm a third-party entity. Had they not previously accepted Google Wallet and demonstrated they have no reason to block Apple Pay other than the protection of CurrentC, there would be less stable ground to stand on.
It sure doesn't seem petty to me
colluding with your competitors to cut out/set/fix something is a big no no
This will be interesting. Hopefully this sends a message to MCX, which by the way is not in the mom/pop shop market. Anything related to WalMart that tanks, is a good thing.