MCX Member Best Buy Begins Accepting Apple Pay in App, In-Store Support Coming

Discussion in 'iOS Blog Discussion' started by MacRumors, Apr 27, 2015.

  1. MacRumors macrumors bot

    MacRumors

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    On an Apple Pay update shared during today's second quarter earnings call, Apple CEO Tim Cook announced that Best Buy will begin accepting Apple Pay in its iOS app today, with full Apple Pay support coming to Best Buy stores later in 2015.

    Best Buy's move to adopt Apple Pay is notable because Best Buy was previously a member of MCX, the Apple Pay competitor that's pushing the CurrentC payments service. CurrentC, which uses barcodes rather than NFC for payments, remains in testing and will launch later this year.

    Best Buy follows MCX member Meijer in offering Apple Pay to customers, and while both companies signed exclusivity agreements, MCX CEO Dekkers Davidson has said that there are no penalties or fines for leaving the MCX program. MCX members are not able to accept both CurrentC and Apple Pay at the same time, so it remains unclear if Best Buy remains a part of MCX.

    Apple also announced that the number of locations accepting Apple Pay has now tripled since the service first launched in October of 2014.

    Update 4:10 p.m. Pacific Time: According to sources that spoke to Re/code, Best Buy won't begin accepting Apple Pay until later in 2015 because its MCX exclusivity agreements don't expire until the summer of 2015. A Best Buy spokesperson told Re/code that the company remains invested in MCX, but did not say the company will offer MCX when it launches. "We are actively monitoring their pilots. It's too early to declare whether we will take it at launch."

    Article Link: MCX Member Best Buy Begins Accepting Apple Pay in App, In-Store Support Coming
     
  2. Z400Racer37 macrumors 6502a

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    Lmao I literally lol'd when that hit the call. Looks like the tech store is finally doing something right tech-wise heh heh heh
     
  3. jontech macrumors 6502

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  4. bowler357 macrumors member

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    Hopefully the others will follow suit and the exclusivity stubbornness will kill MCX.
     
  5. madsci954 macrumors 68030

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  6. blindside217 macrumors regular

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    #6
    Now hopefully they will allow the Citi Best Buy MasterCard to be used with ApplePay. Most other Citi cards do but not the Best Buy one so far.
     
  7. emcampbe macrumors newbie

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    #7
    Is this the beginning of the end of MCX (part 2)?

    What I really don't understand is why a store that primarily sells gadgets at hundreds of dollars a piece like Best Buy joined a coalition that practically aims to get rid of credit cards as a form of payment. I mean, CVS, where they sell stuff like $1 packs of gum and chips, that at least seems reasonable. But Best Buy, cmon?
     
  8. wesk702 macrumors 68000

    wesk702

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    Couldn't have sum'd it up better.
     
  9. OtherJesus macrumors 6502

    OtherJesus

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  10. keysofanxiety macrumors G3

    keysofanxiety

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    Correct me if I'm wrong, but I remember them being very opposed to Apple Pay. They could have just allowed it in the first instance - more payment options for the consumer can never be a bad thing. They ran the risk of looking stupid if they ever went back on their decision (which they have). Oh well, better now than later.
     
  11. Patriot24 macrumors 68030

    Patriot24

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    No surprise at all. MCX/CurrentC was doomed from the beginning.

    Viva la :apple: Pay
     
  12. hoon2999 macrumors regular

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    #12
    I dont get the point of using CurrentC. Yes i get the benefits what merchants gonna have. Withdrawing money directly from customer's bank account so it charges lower fees. But what about the consumers? It takes longer to process opening app, scanning barcodes back and forth rather than just taking out card from the wallet and swipe. i dont see how people(consumers) would use CurrentC over traditional transaction. Plus most people use credit cards to purchase items. CurrentC doesnt work with CC from what i know
     
  13. newagemac macrumors 68020

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    Accepting the way people (and likely your most affluent customers) want to give you money. Accepting Apple Pay would be a no-brainer to any CEO with half a clue. But these company heads aren't very bright when it comes to technology.

    I can say for a fact that Walmart lost our family's business simply because its less convenient for my wife to pay there. And now with the watch, she doesn't even need to dig her phone out of her purse.

    Fighting against convenience is just a dumb idea. And technology is not going to sit around waiting for you to catch up.
     
  14. Lloydbm41 Suspended

    Lloydbm41

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    LOL at Best Buy. Those idiots turned off their NFC compatible readers years ago when Google Wallet first came out. Made me wonder why they ever bothered to upgrade their POS readers.

    Now that Apple Pay is out and consumers are using it, Best Buy finally wakes up and realizes that maybe they should cater to their consumers more. Never understoof their rationale for taking away a payment method to begin with. sheer stupidity I guess. Regardless, another stake in the heart of CurrentC and I'm glad.

    Next domino to fall will be Target. They already have everything ready for Apple pay, both online and in store. They just have to activate the POS readers.

    Wal-Mart will be the last, but no surprise there.
     
  15. sfwalter macrumors 68000

    sfwalter

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    #15
    I think this is the main issue. I don't think they care about the consumer as long as they can save on credit card fees.
     
  16. enthusiastic macrumors regular

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    That's really good news! Hopefully, Walmart follows suit.
     
  17. dontwalkhand macrumors 601

    dontwalkhand

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    Bye Bye CurrentC, it wasn't even nice knowing you, because for now, you're still vaporware!

    Why would I now want to pull out my phone to scan a QR code, or much less wallet, when I can just pass my watch over a credit card terminal, and walk away receipt in hand? I have used Apple Pay on my Apple Watch at numerous places, and trust me, it is a godsend, carrying stuff in your hands, not having to reach in your pocket at all!

    Walmart may just give up on MCX, and switch on their NFC readers, with all the major retailers on board with NFC, this WILL be a standard method of payment in the US. (Sorry Canada, and other countries that don't have Apple Pay yet :(, but at least your cards have PayPass, which mine do too, and I am from Arizona, but I never used it because the card was already out anyway, blah blah blah blah).- And lets not forget, the cards had them but the readers were never there, now we finally have the readers.

    All in all, this is just the nice side effect of us also getting Chip & PIN, which the new terminals have NFC built in already.
     
  18. ArtOfWarfare macrumors G3

    ArtOfWarfare

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    #18
    Yay, my boycott against Best Buy can end now.

    Granted, it was pretty easy since I rarely ever shopped at Best Buy anyways... pretty much the only time I bother is if someone gives me a gift card.
     
  19. Noble Actual macrumors 6502a

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    It won't be long before Walmart joins.

    Resistance is futile when we're talking about money.
     
  20. dontwalkhand macrumors 601

    dontwalkhand

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    #21
    Once this happens, Apple Pay will be accepted at more than 1million+ stores!
     
  21. bookwormsy macrumors 6502

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    #22
    Presumably they'd have incentives (like Isis/Softcard had) to convince customers to try their app. Then count on customers to stick with them once it ends? ... Profit?
     
  22. AlecZ macrumors 65816

    AlecZ

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    #23
    Glad to see CurrentC taking hits, but I have an iPhone 6 and still don't bother with Apple Pay because, given a random store that I enter, chances are that they won't accept it. And I don't feel like setting up the verification just so I can use it at Walgreens. I really hope it becomes as widespread as credit cards (which, BTW, some stores here won't accept or charge extra for).
     
  23. elvisimprsntr macrumors 6502

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    BB is in a slightly different situation than other MCX members. BB is basically an overpriced showroom for online retailers like Amazon, and has been reduced to sub-leasing floor space to manufacturers to reduce overhead costs. Apple may have put the screws to BB by threatening to pull displays/leased space from stores if they didn't accept ApplePay. BB accepting ApplePay is a sign of desperation in an attempt to stop the bleeding of customers to other BnM (some are also MCX members) and online retailers. BB will likely go the way of Circuit City and soon to be bankrupt Radio Shack.
     
  24. Robert.Walter macrumors 65816

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    #25
    Motivation is not the transaction price, it's the profit margin. All the companies clinging to the dream of CurrentC are hoping to increase their margins by 2-3% by cutting out the card networks and banks.

    If banks want to kill CurrentC, they need to charge MCX that same 2-3% to allow it to pull from peoples' bank accounts.

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    I rather think that Walmart and other schlock stores like Sears/Kmart will fight to save CurrentC as they desperately need to capture the service fees they currently pay to the card networks.
     

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