Nobody has to adopt Apple anything. ApplePay uses NFC technology that is already in place for options like Google Wallet and MasterCard PayPass. If those services work, then ApplePay works. There is nothing further to adopt.
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MCX Says Merchants Doing What's Best for Customers, Being Attacked for 'Challenging the Status Quo'
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Nobody has to adopt Apple anything. ApplePay uses NFC technology that is already in place for options like Google Wallet and MasterCard PayPass. If those services work, then ApplePay works. There is nothing further to adopt.
Why bother ? Free advertising for Apple Pay and it just keeps making Apple Pay look better and better
.Did you even bother to read up on ApplePay ? The credit card companies are paying Apple a percentage of the transaction fee. The transaction fee is the same as a normal credit card transaction (i.e. the merchant does not pay any extra money compared to a normal credit card transaction).
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Show me credible documentation that says that merchants have to pay higher transaction fees on Apple Pay transactions as opposed to payments made via a traditional credit card. I don't think you're going to find any because what you're presenting as fact is simply not true. Please stop spreading misinformation.
Read the FTC report I quoted here:
https://forums.macrumors.com/showthread.php?p=20248856#post20248856
Apple and Google would likely incur the wrath of the FTC for blocking a competing mobile payment scheme.
Of course, if the FTC chooses to give MCX and its members a pass, then Google/Apple are free to act....
You know, if "challenging the status quo" meant "improving consumer security and privacy", then I'd be wildly in support of CurrentC. If it was, say, roughly as easy as Apple Pay, and required a similar amount of information (that is, your account number and verification--not your SSN and probably direct access to your bank account, too), then it might not look so bad. And if they said, "Sure, use Apple Pay or Google Wallet, but once you try CurrentC, we're sure you'll prefer our service", then I probably wouldn't be nearly as offended by the other problems with the system.
But the reality is that the system may be challenging the status quo of credit card processing fees, it's also an assault on what little consumer privacy existed at the retail level to begin with (reading one of the articles on just how much the big national retailers know about you from tracking your purchases and buying additional information from brokers to fill out the picture is somewhere between impressive and terrifying), and it really only benefits the retailers, not the consumer, with the only way to push it being to remove the opportunity to use competitors, tells me all I need to know.
That makes them not just another player in the market that I may or may not use, but something I actively want to fail, and anything their CEO tells me pretty much assumed to be a lie.
So while MCX could have just been competition--which is good, particularly if it shakes up things and reduces systemic costs and lock-in--it's now, basically, an antagonist. It's already cost CVS and Rite Aid my business, and I even took the time to send a note to Sears telling them that I'd be taking my appliance purchases elsewhere on account of their participation. Guess I just really don't like being the product.
It might still succeed, who knows. And I'd love to see an actual alternative system like this that really did shake up the payment processing industry (a la PayPal, which has its own problems). I just hope MCX isn't it.
But the reality is that the system may be challenging the status quo of credit card processing fees, it's also an assault on what little consumer privacy existed at the retail level to begin with (reading one of the articles on just how much the big national retailers know about you from tracking your purchases and buying additional information from brokers to fill out the picture is somewhere between impressive and terrifying), and it really only benefits the retailers, not the consumer, with the only way to push it being to remove the opportunity to use competitors, tells me all I need to know.
That makes them not just another player in the market that I may or may not use, but something I actively want to fail, and anything their CEO tells me pretty much assumed to be a lie.
So while MCX could have just been competition--which is good, particularly if it shakes up things and reduces systemic costs and lock-in--it's now, basically, an antagonist. It's already cost CVS and Rite Aid my business, and I even took the time to send a note to Sears telling them that I'd be taking my appliance purchases elsewhere on account of their participation. Guess I just really don't like being the product.
It might still succeed, who knows. And I'd love to see an actual alternative system like this that really did shake up the payment processing industry (a la PayPal, which has its own problems). I just hope MCX isn't it.
Of course they can. I do this at Walgreens. I show my loyalty card which comes up in PassBook on the phone. They scan it, then I wave the phone at the terminal and pay with ApplePay. Pretty easy, and Apple will make it easier soon.
Removal of the app from the store doesn't prove anything. Apple is better off establishing Apple Pay by providing a better experience. They were doing that until retailers disabled their readers.
I believe the Bose removal had more to do with an ongoing lawsuit, which has now settled.
Data. NFC takes away the data they want. It's all about greed. Google wallet wasn't an issue however now both eco systems have a pay option, that's a lot of data they are missing out on.
MCX will not be receiving any of my personal information, nor that of my extended family.
This has nothing to do with ApplePay or Google Wallet, I simply refuse to use loyalty base payment systems that need loads of personal information. Their payment product is NOT for me.
This has nothing to do with ApplePay or Google Wallet, I simply refuse to use loyalty base payment systems that need loads of personal information. Their payment product is NOT for me.
Contrapoint: Walmart has lost to Apple before.
http://fortune.com/2011/08/10/itunes-triumphant-walmart-kills-its-music-download-store/
So you're one of those people holding up the line looking for your bills and change?
Call CVS Headquarters is Rhode Island and tell them you want to use Apple Pay.
1-800-SHOP-CVS
1-800-746-7287
1-800-SHOP-CVS
1-800-746-7287
I'm not so sure. They decided to fight Apple instead of work with them.
There are some elements of CurrentC that aren't inherently bad. Merchants benefit when people don't pay with credit cards. In order to encourage that, it's not unreasonable to pass along some of the savings to the customer. The benefit is therefore mutual.
By bypassing the credit card companies, customers do lose certain fraud protections. But, using a system like Apple Pay, the risk is substantially reduced. So even if Apple took a small percentage from MCX-based transactions (and it's not clear they would), it's still much smaller than what they pay to credit card companies and is worthwhile to protect consumers from fraud. It's a consumer-oriented approach. Better profit margins for merchants and savings for consumers with minimal fraud risks even with the loss of credit card fraud protections.
In case it's not clear, the idea would be, e.g., for MCX to provide customers with a digital card that can be integrated into Apple Pay. When you pay with that card via Apple Pay, money is withdrawn from the consumer's CurrentC account, like any debit card transaction. When doing so, they provide you with whatever savings they do now (be it coupons or loyalty points, etc.). Sure there are technical pieces I'm omitting, but that's the main thrust. If they fixed other security concerns, such as not requiring your SSN, this approach actually has a chance to work and works with Apple instead of against it.
everyone should keep attacking them...eventually the stores are going to get scared and pull out and it will pave the way for widespread apple pay acceptance
Why i still use cash? I don' have to worry about hackers ...like target. Cash is simple...don't have to worry about all these process and stuff. I support mobile pay...and i still support cash.
They're changing the "Status Quo" alrightfrom bad to worse! The reason hackers are targeting them is because 1. They just realized there is a treasure trove of personal data in this cloud, 2. Since it's inherently more insecure it beats trying to hack something like Apple Pay, which actually might be impossible unless you have a device and a severed thumb and 3. Because these hackers are pissed at them like everyone else is. Hackers don't want to use a system that lets them get hacked too! So burn it down! This won't be the last data leak, I can tell you that much right now.
I think I'll go to Walmart, fill up a few baskets with numerous expensive items...and then leave it at the check-out because they won't accept Apple Pay.
Say NFC or Google Wallet so you sound like a real customer.
the moment apple/google removes CurrentC app, they will get a complaint from government/MCX that they abuse/monopolize their app store unjustly.
I thought I was reading a political campaign message...
Keep on spinning. They are going the wrong path of no return.
What? Wouldn't that just make people use Windows phone or Blackberry?
Keep on spinning. They are going the wrong path of no return.
What? Wouldn't that just make people use Windows phone or Blackberry?