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MCX Postpones Rollout of Apple Pay Rival 'CurrentC'
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You know what the funny part is? MCX Partners that have had a recent data breach:
Target
Wendy's
Best Buy
CVS
Walmart
Some of the largest data breaches in history were at MCX retailers.
Heck, one of their retailers had two breaches in ONE MONTH. http://blog.trendmicro.com/best-buy-suffers-second-data-breach-in-a-month/
At least four out of the five were smart enough to get their chip readers up and running. Wendy's on the other hand is an embarrassment to American merchants.
Target
Wendy's
Best Buy
CVS
Walmart
Some of the largest data breaches in history were at MCX retailers.
Heck, one of their retailers had two breaches in ONE MONTH. http://blog.trendmicro.com/best-buy-suffers-second-data-breach-in-a-month/
At least four out of the five were smart enough to get their chip readers up and running. Wendy's on the other hand is an embarrassment to American merchants.
Seriously. Most of their original members now support Apple Pay. And with their main client now coming up with its own (equally asinine) solution, what's the point of even rolling it out?
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I say, in all honesty, as an American I am both jealous and disgusted.
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Sarcasm, thinly veiled nationalism... but if the poster drove himself a few hours North from America to Canada, he'd find that chip & pin works perfectly fine at major retailers like Walmart, Home Depot, Lowes, McDonald's, and large supermarkets.
I hope they all catch colera and snuff it. This payments program lark is yet another cheating program, where the so-called provider takes nibbles out and thus earns billions. The stupid consumer thinks "Oh that is alright" because he doesn't realise that the product prices are notched up accordingly so that none of those in the vendor chain lose out. In other words it is another hidden cost applied to the unsuspecting citizen and should be opposed by everyone at all costs.
Apple Pay is a consumer service, while Walmart Pay benefits Walmart above all else. In fact it's safe to assume that any retailer that has not activated Apple Pay is doing so because of AP's strict privacy guidelines that prevent these retailers from mining your data.
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Visa vs AmEx may be a better analogy. AmEx has a significantly smaller presence (and higher fees to merchants) but the user base of AmEx is generally more affluent and includes a lot of business travelers able to expense their purchases. Many merchants feel they need to accept AmEx as a result despite the higher fees and small base. Market research has generally found Apple users to be more affluent than Android users as well, similar forces could be at play. Add to that the fact that Apple Pay doesn't increase transaction fees to the merchant at all and I would expect almost everyone that supports Android Pay will also support Apple Pay.
Speak for yourself. I'll take the security of a properly implemented slower chip and PIN system any day over the faster, and incredibly half-assed, chip and signature system implemented here in the US.
Not a big surprise here. Apple Pay is vastly superior due to its simplicity. Just pull your phone out and hold above the sensor, couldn't be easier! And since Apple products are so ubiquitous, that means that there is a veritable amount of retailers and vendors that accept it.
I find it so annoying when I go to Wal-Mart to buy groceries and I'm ready to pay. My mind is subconsciously trained to reach for my iPhone so I can use Apple Pay, but they insist on trying to fragment the market. A payment system should be as universal as possible and so simple a child could use it. (God forbid!)
I find it so annoying when I go to Wal-Mart to buy groceries and I'm ready to pay. My mind is subconsciously trained to reach for my iPhone so I can use Apple Pay, but they insist on trying to fragment the market. A payment system should be as universal as possible and so simple a child could use it. (God forbid!)
Let's remember that MCX WAS Walmart's Idea. They started it. Now the other merchants saw in testing what we all knew they would (That customers hated it) and decided not to go forward. One of them, Best Buy has enabled Apple Pay. Other will soon I expect. So now we see that Walmart will move forward with Walmart Pay ...Which is MCX's solution except that you have the privilege of allowing Walmart to not only store your full banking info on their servers for the hackers to come find but also any of your credit cards that you wish to have hacked. They will graciously take funds from your accounts at selected intervals and convert them into Walmart gift cards to be used in the app as Walmart Pay.
Sadly Target is looking in the same direction.
There is only one thing we can do here... Don't use it. I am one of the 20 million Walmart app users, but you will NEVER see me add payment data to the app. Sorry Target don't even ask.
To Home Depot, I say you promised to RE enable Apple Pay after your Chipped card rollout was complete...It is...so where is it?
To Publix....Come on, you guys can't even get the chipped cards rolled out?
To all merchants...Apple Pay solves all of this. I know you want to track us. Find some other way to get us to allow you this data ...In other words something that helps US and not just you.
Sadly Target is looking in the same direction.
There is only one thing we can do here... Don't use it. I am one of the 20 million Walmart app users, but you will NEVER see me add payment data to the app. Sorry Target don't even ask.
To Home Depot, I say you promised to RE enable Apple Pay after your Chipped card rollout was complete...It is...so where is it?
To Publix....Come on, you guys can't even get the chipped cards rolled out?
To all merchants...Apple Pay solves all of this. I know you want to track us. Find some other way to get us to allow you this data ...In other words something that helps US and not just you.
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I think you missed the countless studies that have shown Apple users are way more enaged and way more likely to spend money compared to their Android counterparts. Therefore the higher usage of Apple Pay compared to Android Pay shouldn't be a surprise to anyone.
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I have sent feedback to Apple many times suggesting that they should make it a requirement that any app which sells anything needs to include Apple Pay as a payment option. I don't think that's a lot to ask for.
That sounds like the politician saying they are quitting 'to spend more time with their family'.
[doublepost=1463496736][/doublepost]All I can do is laugh.
The best Apple feature now, and this is perhaps strange, is that Apple Pay works like a charm on the Apple Watch.
*click* *click*, pause, OUT THE DOOR!!!
No scanning of absurd QR codes, no waiting for 'Magic to happen'. *BOOM* How does it feel to be handed your ass on a paper plate?
I think that the only reason the company will exist is as a cash cow for some executives that don't have a clue where they can make the same amount of money in the future...
Many people confuse the notion of tokenization ... which is primarily meant to prevent retailer data breaches from exposing real account numbers... with privacy.
Whether the retailer has access to our account names has nothing to do with Apple. It's up to the credit card schemes and banks as to whether or not to let a retailer pay to get access to a token -> account user info association.
Apple itself is quite happy to let retailers mine data, as long as they partner with Apple. E.g. Apple lets Kohls register its own cards so the token and loyalty are combined.
More importantly, Apple is quite happy to let banks continue to mine our purchase data, in return for which Apple gets a cut of each purchase. The banks themselves are happy about this deal as well, since now they charge retailers for setting up targeted coupons etc.
Sure, but even that's not enough to make US merchants commit to NFC payments, especially since even Apple Pay usage is not that high. In fact, the percentage using it has dropped.
Latest studies show that while awareness of Apple Pay in the US is high, at this point in time, the typical financial institution can only expect 1 to 2% of cardholders to use Apple Pay two or more times.
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If you are talking about ApplePay taking nibbles out of merchants income causing raised prices, you are ignorant. AP takes its bite out of the bank's transaction fee income.
Re. Cholera, you are malevolent.
On 2nd thought, instead of ignorant and malevolent, you might just be an astroturfing bank CFO.
I think it's a known fact that companies track usage via loyalty cards, so this is nothing new. But it's up to me as to whether or not I want to add the loyalty card. Apple doesn't force me to add a loyalty card to Apple Pay.
As far as banks, not sure exactly what you're getting at. Every transaction goes through your bank or credit card, so of course they have access to your data whether you're using Apple Pay or not.
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I agree, Apple should be forcing apps to leverage both Apple Pay and Touch ID.
I thought this died as a stupid idea that will be irrelevant in a year or two once every phone has built-in NFC. I mean it was irrelevant over a year ago when they announced it, but rolling it out so slowly is also another nail in its coffin.
The same study says at least 20% of iPhone 6 owners have used Apple Pay at least once...that's a minimum of 40 million transactions. Not sure how you concluded that usage is "not that high".
More importantly, the conclusion is as follows and merchants should take note:
“This represents positive momentum for the evolution of the US mobile payments market, but it also suggests a long adoption curve. Despite different stakeholder interests and mobile-related initiatives, most signs point to long-term success.”