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MCX Executive: Social Security Number Won't Be Required, Most Customers Don't Use Major Credit Cards

I highly doubt Apple would ever open NFC on apple devices to MCX even if they wanted to use it. I'm sure 3rd party apps will be able to use them later on but apple will restrict the living **** out of it.

Point being if CurrentC doesn't have NFC capability at launch it is DOA, regardless if it did it would be DOA anyways... no one wants this MCX. Loosen your strangle hold buy NFC terminals and let consumers choose what they want.
 
milo said:
So most customers don't have major credit cards...yet a significant number of people who don't have a credit card are going to have a smartphone? That fails the sniff test.
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Doesn't have to be an iPhone. Could be a cheap pay-as-you-go android WalMart sells. Just needs a camera and a data plan.
 
'outrage' aside. i feel sorry for these guys.
big ideas with possibility for massive expansions - but came into the market at completely the wrong time.
imagine throwing your life into this thing for years, only to suddenly see the september keynote by apple on tv one morning, mere weeks/months before your planned launch.
 
mj1108 said:
Let's get a list going of the consumer benefits....

1. Uhmm..........
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Well they didn't specify which consumers.. The whole debacle has been fairly entertaining for Apple Pay users, I suppose that's one benefit - it's kept us all entertained :p
 
HA HA, this is funny.

At least all the backlash is having some effect. They keep walking back their policies.

Even when I use my debit card, I still have fraud protections pretty much the same as a credit card. I am not about to let them link to my bank account.
 
I have no desire to stand in line to pay waiting for some idiot in front of me to get out thier smartphone, find an app, launch the app, and wait for the QR code to show up.
 
ApplePay and Google Wallet or its a no go. He didnt address the info sharing issues. Also the QR code thing is the pits.
 
LOL I don't believe at all that the majority of their customers do not use credit cards for most of their purchases.
 
Still doesn't change the fact that this system is designed to largely solve the retailers' problem with CC companies and not to make paying easier for customers.
 
Derekeys said:
Listen guys it's very simple:

1. Download the app
2. Add your checking account number
3. Verify with your bank
4. Everything gets messed up and you need customer service
5. Everything gets fixed the following week.
6. Go back to the store and try again
7. Tell the cashier you want to use "CurrentC"
8. Cashier gets confused because they think you're an idiot, of course the customer is going to use currency...
9. Explain to the cashier that no, "CurrentC" is a new app where you need to have her use that scanner from 1991 to scan your phone from 2014 to reach into your bank account and grab your money.
10. Then you can walk away happy that CVS not only knows you just bought tampons for your wife, but where you bought it, and what your heart rate was when you bought it.


Cmon guys, it's frictionless...
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Hey I get it - Apple Pay is very easy. But let's not overbloat MCX's solution with hyperbole. It's clearly not as seamless or step-saving as Apple Pay - but it's also not an albatross.
 
Rite Aid and CVS, as MCX members, were required to cease accepting Apple Pay to remain part of MCX.

Last week they claimed it was a voluntary move....... This says it all for me.
 
I can pretty much guarantee that the percentage of iPhone users and people who shop at lowes that use major credit cards is much higher than that of android users or Walmart shoppers.
 
Are they suggesting their target customer base is the entire customer base for these 50 retailers? I would suggest they need to dig a little deeper and find out what group is most likely to adopt this technology and then see what that groups payment preference is. Throwing in the transactions of the 75yr old grandma's or cash only people doesn't make sense as they are unlikely to ever use the phone to pay. I believe, and maybe I'm misremembering, but the users most likely to adopt new technology methods for payment are also most likely to use credit cards right now (collect points etc, pay off their debt).
 
I presume you also cant use a contactless credit or debit card with them now if they have disabled NFC? So they removed that choice as well.
 
JGRE said:
Rite Aid and CVS, as MCX members, were required to cease accepting Apple Pay to remain part of MCX.

Last week they claimed it was a voluntary move....... This says it all for me.
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You know, when you enter into a contract or agreement, you're required to adhere to the contract or agreement too. How is this any different.

You can fault them for joining the consortium. You can't get pissy at them for adhering to the requirements.
 
Purchasing with CurrentC should be cheaper, right? I mean they are cutting out the CC fees, so they should be able to pass that savings on to the customer, right?

Yeah, right.
 
I used apple pay for the first time last weekend and I had to double check that the payment went through cause it worked so flawlessly. And I dont know what he is talking about people not using credit cards I barley use cash anymore.
 
Any payment system that requires such a high level of explanation should be abandoned or killed. I will not use MCX and will not shop at any retailers that require use of MCX for mobile payments. It's really that simple.
 
NMBob said:
Purchasing with CurrentC should be cheaper, right? I mean they are cutting out the CC fees, so they should be able to pass that savings on to the customer, right?

Yeah, right.
Click to expand...

Target, with their store card offers 5%.

Who knows if other retailers will follow.

Nor what other types of incentives/loyalty programs will exist.
 
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