The "consequences" are meaningless since they'll be out of business within a year.no one will use this system.
I'm an apple fan but lol yea right
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MCX CEO Touts Loyalty Perks of CurrentC, Says There Are 'Consequences' for Breaking Exclusivity Terms
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I'm an apple fan but lol yea right
Only for in-app purchases.
Actually, you can set up auto-reload from a credit card or Paypal (which may be linked to a checking account).
Oh come on! These guys are trolling the tech press at this point just praying that they continue to get coverage.
Someone should tell those MCX executive bozos that continuing to get covered in the tech press isn't necessarily a good thing for them. At this point, I think most of us are laughing at this disgrace of a company.
Someone should tell those MCX executive bozos that continuing to get covered in the tech press isn't necessarily a good thing for them. At this point, I think most of us are laughing at this disgrace of a company.
Precisely! MCX appears to be a merchant-centric solution where convenience and security of customer data almost seems like an afterthought, and a distant second priority after the apparent main goal of 'mining' such data for the benefit of the merchants.
Also, personally I'm not all that interested in loyalty programs either, as I see them as a way to bribe me with my own money, into repeat business.
Just give me a secure, private and convenient way to pay, and use that money earmarked for those loyalty programs to lower your prices; an excellent way to earn your coveted repeat business!
Always will be. MCX,pay, google pay etc. Please..
Cash is king no matter what. And nobody cares where one will shop or not!
Good luck getting the king back once it has been stolen from the castle.
This. Plus, if you had to pick one who do you trust to take fraud seriously- credit card networks that have been doing it for decades combined with Apple who is on course to be the privacy tech company, or retailers whose primary focus is sales combined with a startup of under 100 employees? When the day comes for a defrauded customer to dispute a charge with Walmart's degenerate customer service staff, they can kiss their money goodbye.
QR codes are, as others have noted, dead. Their system was conceived back when some people thought QR codes were going to change the world, but they never took off and trying to bring them back is foolish at best, especially for a payment system. The fact that Apple has made, for those with a 6 or 6+, so absolutely easy to use Apple Pay, it's going make all other systems seem cumbersome and not worth the effort.
I know I'm making a pretty big claim, but I would bet that in 6 months, if we come back to review how things play out, it's likely that CurrentC will be a failed attempt and the retailers who bought into the scheme will have moved on and won't be looking back.
Not sure what you mean by the "core". With Apple Pay, the tokens and the keys used to generate the one-time security codes are delivered from the "cloud" to the device via the Internet when you register the card in Passbook. The token verification by the merchant at the time of transaction also uses the "cloud" via the Internet. The only difference from CurrentC (assuming the CEO's explanation is accurate) is that Apple stores the token and key in the Secure Element on the device, while CurrentC doesn't store it on the device but delivers it "on demand" at the time of the transaction. If you assume that the payment processor is hacked, you are screwed in any case.
From what I understand, CurrentC transactions will not be processed by the retailers, but by MCX (the company). Whether they are more or less trustworthy than a bank or payment processor, I don't know. I do know though that both banks and payment processors have been hacked in the past.
Retailers are seeing once in a generation move of consumer payment behavior - from plastic cards to these sensory communication systems. They claim to have "suffered" from processing fees during the regime of plastic and see this is a once in a generation opportunity to shape the next payment paradigm to make it cheaper for themselves (aka cut the credit cards out). All the while, Google Wallet and other NFC systems lacked uptake and they certainly did not have the marketing muscle of Apple. Now Apple Pay is out - and if they do not try something now, they have no chance for another generation or more. That is why the desperation, even if their product is not even street ready yet.
Always will be. MCX,
Cash is king no matter what. And nobody cares where one will shop or not!
I hate cash, i get infected with other people's sicknesses...you know how many hands touch cash?. The best is contactLESS....no one touchin my phone with Apple Pay
Banks are liable for unauthorized ACH debits to a certain degree under the Electronic Funds Transfer Act (which also regulates debit card payments). However, the protections are less customer-friendly than those of credit cards (which is one of the things paid for by the credit card transaction fees). It will be interesting to see if MCX offers any kind of additional liability protection. Personally, I only use credit cards for payment whenever possible ...
Do you realize that the average person doesn't even know what a qr code is?
Most of us here are tech people or at least a bit in tune . The vast majority, not so much.
You see how the masses think apple created nfc while it's been around for years. People are going to love that qr system. I'm not one of them, but I'd put money in it doing pretty good.
MCX CEO Touts Loyalty Perks of CurrentC, Says There Are 'Consequences' for Br...
To a certain degree. How swell. I'll stick with my 100% guarantee from Amex and Chase, thanks.
The removal of NFC is such a bad idea, you are essentially replacing something that your customer was using and the replacing it with a non-existent product that somewhat promise will be available in 2015. Apparently CurrentC is a cloud based product because it's essentially vaporware.
Paul
Paul
The sad thing is I might have been willing to give CurrentC a try as long as my purchasing habit were anonymous with the whole loyalty card thing. But with the attitude of blocking Apple Pay just to protect a product that is not even finished yet... now you can eat a dick MCX.
This is hilarious, really. The guy keeps saying "Like with Apple..." Yet their product has been in development for several years and won't even be rolled out widely until next year. Big mistake taking all of the key selling points of your product and comparing them to something Apple already has available but YOU have blocked.
Just imagine a political candidate that no one likes saying they're "just like" the candidate everyone does like, then why should we vote for you???
If Apple could better integrate Apple Pay w/ rewards cards in passbook it's game over.
Just imagine a political candidate that no one likes saying they're "just like" the candidate everyone does like, then why should we vote for you???
If Apple could better integrate Apple Pay w/ rewards cards in passbook it's game over.
I'm kinda piping in late on this, but I have to say, I love the headline for this thread.
"Comeon, guys! Join CurrenctC! It's great! You get all kinds of cool bonuses, and we only break your legs if you quit!"
"Comeon, guys! Join CurrenctC! It's great! You get all kinds of cool bonuses, and we only break your legs if you quit!"
