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MCX Says Merchants Doing What's Best for Customers, Being Attacked for 'Challenging the Status Quo'
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CueCat was awesome! We got like 5 of them free, then opened them up - disabled the CueCat proprietary stuff (I don't remember the exact method - it was a jumper I think) and then they worked just like any regular barcode scanner.
We used them to scan the barcodes of all of our DVDs and video games into a cool entertainment library app...
CueCat gave away a lot of free barcode readers to people who never used a single CueCat ad...
MCX must be a merchants worse nightmare - most were so caught up by the MCX 'marketing' of sticking it to the traditional credit card companies that they chose to buy into MCX.
I think a lot of big companies have just been had by MCX. MCX is just trying to develop a credit card bypass company but they will need to charge fees themselves in the long run. These big companies are just going to be paying fees to someone else someday - ie. MCX.
Oh my - the stupidity of this whole MCX saga shows you how sometimes business can be so out of touch with reality.
MCX and merchants can't do what banks and credit card companies do ie. offer credit. If people want to use their credit cards to pay, they'll just swipe their card. Try taking cash or MCX only? Watch these stores literally go out of business in a few months.
I think a lot of big companies have just been had by MCX. MCX is just trying to develop a credit card bypass company but they will need to charge fees themselves in the long run. These big companies are just going to be paying fees to someone else someday - ie. MCX.
Oh my - the stupidity of this whole MCX saga shows you how sometimes business can be so out of touch with reality.
MCX and merchants can't do what banks and credit card companies do ie. offer credit. If people want to use their credit cards to pay, they'll just swipe their card. Try taking cash or MCX only? Watch these stores literally go out of business in a few months.
What a joke.
I feel that they're in on this together. They just don't want the vastly superior Apple Pay to flatten them day one just because they're too lazy to provide an actually good product. They should be in on this NFC stuff and actually compete with Apple, not flee from it.
right.. I was more responding to the part about credit card application not requiring ssn.. I outlined the checking account but the credit card is that and then some.
LOL
but seriously QR codes are huge in Asia.
Here in Japan, roman letters aren't the norm, tied in with 'Janglish' and you end up with searches for 'gugaru' ......aka google, or 'apuru' ....................aka apple.
QR codes make it easier. You'll end see billboards with them.
But its starting to die out.
"Reminder: In order to delete your Checking Account from CurrentC, you must contact Customer Care at 1-855-772-8773."
I wonder how many layers, levels and secret tunnels you'll have to navigate by phone to actually make this happen. The more I read about this (from their own site, mind you), the worse it gets.
MCX contracts for call center support from Comcast.
This. Is. Exactly. What. Everyone. Has. Been. Trying. To. Tell. You. For. The. Last. 5. Pages
Because No one wants to carry there Wallet around or the real cash only to be mugged by some dude with a gun.
Why, after presented all the facts over and over that you continue to believe what is wrong and your personal opinion? You suspect speculation? Wow.
But they didn't because
Oh I get it. Wait, what? "Maximum compatibility" ... except for NFC. Which it is actually capable of utilizing... They just chose not to. And to block out anyone who wanted to use it. Seems legit.
First, off, there is way too much going on here for a system that won't even be implemented until next year. So, this isn't a competitor, you can't use it, so how can you call it a competitor? Apple Pay and Google Wallet already work with NFC today.
"But pressed as to why some retailers such as CVS and Rite Aid have shut down NFC entirely rather than allow unofficial Apple Pay payments in their stores, Davidson argued that merchants know their customers best and are making the choices they believe are right for their customers. He said the merchants believe customers want more than just mobile payments, and CurrentC's integration of payments with loyalty cards and coupons will in his opinion prove to be the best solution. "
This is total B. S.
They only have their own interests at heart. Make no mistake, this is what's best for MCX & the merchants locked into it, not the consumer.
We have loyalty cards, coupons and rewards without locking us into one form of payment. Smoke & mirrors...they are getting more from you than you get out of this, I guarantee you that.
I call B. S.
1) You can't lock people into one payment system in this day and age, not going to go over well.
2) This system is not as secure as Apple Pay w/NFC. I'm not sure how Google Wallet is as far as security, so, can't comment on that, but, I'm guessing, since it uses NFC, it's more secure than this proposed CurrentC system (it is only proposed, in testing stages, not in real time use.). People want guarantees that, when you give them your info., it can't be stolen/hacked (Target & other POS system hacks.). Apple Pay's NFC payment system has been implemented in such a way, that, even if someone could find numbers, they would not be able to do anything with them, and they are not related to your card or bank. Really well thought out. I think this is the real scare here. That, and the fact that more than a few people are suddenly using NFC.
1 & 2) People want secure choices for making payments. Mag stripe CCs are totally NON-secure. You can't tell people "you can only use our one system or use the old mag stripe CC or cash", it won't go over well with consumers. This maybe could have had a chance 10 or even 5 years ago, but, not today.
CurrentC is milking the press for all it's worth. Let's get them out of the limelight, please. Something really fishy about this.
"But pressed as to why some retailers such as CVS and Rite Aid have shut down NFC entirely rather than allow unofficial Apple Pay payments in their stores, Davidson argued that merchants know their customers best and are making the choices they believe are right for their customers. He said the merchants believe customers want more than just mobile payments, and CurrentC's integration of payments with loyalty cards and coupons will in his opinion prove to be the best solution. "
This is total B. S.
They only have their own interests at heart. Make no mistake, this is what's best for MCX & the merchants locked into it, not the consumer.
We have loyalty cards, coupons and rewards without locking us into one form of payment. Smoke & mirrors...they are getting more from you than you get out of this, I guarantee you that.
I call B. S.
1) You can't lock people into one payment system in this day and age, not going to go over well.
2) This system is not as secure as Apple Pay w/NFC. I'm not sure how Google Wallet is as far as security, so, can't comment on that, but, I'm guessing, since it uses NFC, it's more secure than this proposed CurrentC system (it is only proposed, in testing stages, not in real time use.). People want guarantees that, when you give them your info., it can't be stolen/hacked (Target & other POS system hacks.). Apple Pay's NFC payment system has been implemented in such a way, that, even if someone could find numbers, they would not be able to do anything with them, and they are not related to your card or bank. Really well thought out. I think this is the real scare here. That, and the fact that more than a few people are suddenly using NFC.
1 & 2) People want secure choices for making payments. Mag stripe CCs are totally NON-secure. You can't tell people "you can only use our one system or use the old mag stripe CC or cash", it won't go over well with consumers. This maybe could have had a chance 10 or even 5 years ago, but, not today.
CurrentC is milking the press for all it's worth. Let's get them out of the limelight, please. Something really fishy about this.
Its clear They want to track
Its clear that MCX wants to track consumer buying habits and data for there own good. Apples Solution is more private and does not track our data.
Its clear that MCX wants to track consumer buying habits and data for there own good. Apples Solution is more private and does not track our data.
Haha. If my bank ever asked me for this I know where I would stick it.
To the best of my knowledge, none of my fingerprints are on file anywhere and I like it that way.
Well, let's look at a quote from that PDF
"These rates are not only lower than so-called "card not present" fees assigned to touch-less systems, but also traditional "card present" fees."
As I said, the fee for an Apple Pay transaction is even lower than the fee for a standard 'card present' transaction. So, since Apple's share comes from the bank, there actually is a benefit for the merchant from Apple Pay. The companies are 'cutting off their noses to spite their faces'.
Ok..... Um... 60% of phones are non iOS. Then only a fraction of those users have the latest iPhone. .15% is a break-even price for maintaining the software.
If they got all transaction in the US, it still would only be 18M dollars per day, that's still "just" 6.6B dollars per year. Of course, not every transaction will go through Apple, if they get 20%, that's 1.3B. Don't think Apple is thinking on this being a major money maker. It is just a bonus.
THe Iphone users have the highest demo (they spend by far the most per phone in use), so it is highly probably that that people with Iphone control more than half of US money spent on transactions.
Still, I said in some other post, it is unlikely that they'd get more than 20% of all US money spent on transactions even in 5 years. That's still a bit more than 1B. More than the cost of software that's for sure ;-).
Rite-Aid and CVS are doing what's best for their customers by blocking a perfectly legitimate payment avenue that they had already supported?
MCX needs to hire some better liars.
MCX needs to hire some better liars.
Mr. Davidson, take note:
The choice that is right for me is allowing me to use the payment system of my choice. And that's Apple Pay/Google Wallet via NFC. (I use Apple Pay personally, but NFC supports both).
And depriving us of choice means you aren't really keeping our preferences in mind. Only yours. Thanks to your partners' shortsightedness, I'll be shopping at the competition.