I am not doubting anyone, but I have been on their site and have seen anything about a SSN needed. Was I just in the wrong area?
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MCX Says Merchants Doing What's Best for Customers, Being Attacked for 'Challenging the Status Quo'
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I am not doubting anyone, but I have been on their site and have seen anything about a SSN needed. Was I just in the wrong area?
I have a feeling MCX is weaselling around with their definition of the word "fine".
MCX: "Oh no, of course we don't fine our partners for using other mobile payment systems.... they are just contractually obligated to make a $10M donation to MCX if they do..."
Here is a good write up on the brute force method to obtain valid email addresses from MCX, without any form of authentication with the server.
http://www.imore.com/depth-look-currentc-and-personal-data-they-want-collect?
Retailers have failed to demonstrate their ability to protect customer information. The security of your information is only as strong as the weakest retailer. It is better to trust the banks and CC companies who, up until this point, have shouldered all the financial burden of fraudulent charges, thus have the financial incentive and resources to ensure customer data is protected. The reason America has not moved to more secure payment systems rests solely on the retailers, already operating on razor thin margins, refuse to spend any money to upgrade their systems. Especially when, until recently, they have not had to shoulder any of the liability. That will all change in October 2015 when the liability shifts to the retailers.
http://www.imore.com/depth-look-currentc-and-personal-data-they-want-collect?
Retailers have failed to demonstrate their ability to protect customer information. The security of your information is only as strong as the weakest retailer. It is better to trust the banks and CC companies who, up until this point, have shouldered all the financial burden of fraudulent charges, thus have the financial incentive and resources to ensure customer data is protected. The reason America has not moved to more secure payment systems rests solely on the retailers, already operating on razor thin margins, refuse to spend any money to upgrade their systems. Especially when, until recently, they have not had to shoulder any of the liability. That will all change in October 2015 when the liability shifts to the retailers.
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I called CVS Headquarters yesterday and spoke with the customer service operator for about 5 minutes. She took notes and asked various questions. They definitely did not hang up.
We have seen this story before where Apple enter's a market and just takes over that market segment. In this case Apple is entering a market segment where a company doesn't even have a foothold yet. Do they really think they have a chance? But I guess the alternative is just to give up now... so can't blame them too much for trying.
Those retailers and MCX are just bathing in bad publicity at this point - reports of them being hacked, less private, and backwards in their thinking. It's all bad, bad, bad.
Loyalty cards and coupon integration is nice, but no doubt that will come soon to ApplePay. It would make more sense to try and work with Apple to integrate that stuff than to duplicate it.
Their system is much less private, and then they tout the ability to enable privacy as such a big feature. What morons - they know that customers want privacy but many won't find that dashboard. If they enabled privacy by default, which is clearly important to their customers, they'd essentially end up with ApplePay.
I predict that the retailers are going to reverse course on this quickly.
Loyalty cards and coupon integration is nice, but no doubt that will come soon to ApplePay. It would make more sense to try and work with Apple to integrate that stuff than to duplicate it.
Their system is much less private, and then they tout the ability to enable privacy as such a big feature. What morons - they know that customers want privacy but many won't find that dashboard. If they enabled privacy by default, which is clearly important to their customers, they'd essentially end up with ApplePay.
I predict that the retailers are going to reverse course on this quickly.
You're correct. IRS does not have DL info. My mistake.
My eyes cross when I see some retail outfit that wants SSN, bank account info etc. No way.
Credit reporting agencies have our info too, I guess. At any rate a service like CurrentC would not be able to persuade me to provide. I really don't see anything attractive about the CurrentC offer. Maybe I am missing something.
Coupons, reward points etc don't interest me. I get enough spam from Google reading my gmail throw away account.
Oh really, don't know how it is in the US, but in Canada this is explicitely when it is not allowed for your SIN (SSN in the US) to be be requested. It is STRAIGHT ON THEIR WEB SITE.
- Proving your identity (except for specific government programs)
- Completing a job application before you get the job
- Completing an application to rent a property
- Negotiating a lease with a landlord
- Completing credit card application
- Cashing a cheque
- Applying for a video club membership
- Completing some banking transactions (mortgage, line of credit, loan)
- Completing a medical questionnaire
- Renting a car
- Subscribing to long-distance or cellular telephone services
writing a will
- applying to a university or college.
Anyone who asks it in all of those cases can get into trouble, big fines, etc.
If the US allows any of these uses, well the US is a really dumb place to live...
Those that are allowed (very short list):
- Your employer
- Most financial dealings with the government, including taxes, pension plans, all kind of benefits programs, etc.
- Fnancial institutions from which you earn interest or income (for example, banks, credit unions, trust companies)
That's it. Pretty restricted hmmm...
Paying in cash is great, but, in the end, that is what the merchants want (although your privacy is much safer). The former Walmart CEO who spearheaded Current C wants VISA to suffer. In that case, I'll use my VISA check card.
The "status quo" in this case means the credit card companies. Walmart and the others backed CurrentC in an effort to cut credit card companies out of the transaction fees.
Former Wal-Mart CEO Lee Scott when asked why MCX (CurrentC) would succeed when others like it had failed said, "I don't know that it will, and I don't care. As long as Visa suffers."
Walmart, who made $473.1 billion and returned $12.8 billion to shareholders in fiscal 2014 while cutting health insurance to 30,000 employees, most of which are living below the poverty line and need government assistance to get by while working at Walmart. You think those cheap bastards are going to pass the 1% to 5% per transaction they're trying to save on to their customers or, better yet, their employees?
Not a f$#@%$g chance.
Former Wal-Mart CEO Lee Scott when asked why MCX (CurrentC) would succeed when others like it had failed said, "I don't know that it will, and I don't care. As long as Visa suffers."
Walmart, who made $473.1 billion and returned $12.8 billion to shareholders in fiscal 2014 while cutting health insurance to 30,000 employees, most of which are living below the poverty line and need government assistance to get by while working at Walmart. You think those cheap bastards are going to pass the 1% to 5% per transaction they're trying to save on to their customers or, better yet, their employees?
Not a f$#@%$g chance.
"They know their customers best". Yeah, they've been spying on them for data for 20 years. We don't want you to know us that well.
Why not do this stuff at Apple's expense rather than your own. It should be a no brainer. Besides if some consumers do give you information then you have a competitive advantage to someone else.
question: is it too late for the merchants? I mean they signed up to 3 years commitment...yes? if i'm not mistaken.
Unless the merchants refuse to accept credit card transactions, you can always keep doing what you have done so far - swipe the plastic card. No need to go all cash.
Last 4 digits
I was helping a neighbor lady get her health coverage cancelled, because she's starting Medicare. The operator did need some form of ID to cancel it. (Probably a good idea.) She was flustered and looking through her purse. Now, this is "Covered California," so a semi-governmental agency. The government has your number. But they only see, and they're only allowed to ask for the last four digits, and that's all they see on the screen to verify your answer.
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They said the stories of big fines if you leave aren't true.
I was helping a neighbor lady get her health coverage cancelled, because she's starting Medicare. The operator did need some form of ID to cancel it. (Probably a good idea.) She was flustered and looking through her purse. Now, this is "Covered California," so a semi-governmental agency. The government has your number. But they only see, and they're only allowed to ask for the last four digits, and that's all they see on the screen to verify your answer.
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They said the stories of big fines if you leave aren't true.
OOO...I hadn't thought of that! S*$t would get real if that happened! I'd love it!
What's even more fun is if you sort by "Most Favorable" and read the 5-star reviews. There are currently 10 out of 1698 reviews, of which 7 are actually tremendously insulting, some of them rather hilariously so. Of those remaining three, one is legit, one is a fan of a vague concept, and the third is either a weird attempt at trolling or an actual CurrentC fan (at least conceptually), by the name of Fjvfcvlolppppppppppp and who really likes caps lock.
Incidentally, there are an additional 3 3-star reviews, and 3 2-star reviews, about half of which are from people who've actually tried it and didn't like the fact that it was crashy and/or not easy to use.
So the actual percentage of 1-star reviews is 99.06% and the percentage of legit favorable reviews from actual users is 0.12%--one "Awesome experience with the App!" with a little detail and one "It's ok" (that's the entire review).
Indeed. That had to be one of the single most ridiculous, insulting-to-my-intelligence statements I have ever read.
Even if you believed everything else this guy was trying to sell, you would have to either not understand what the cloud was or work for Google to think that was true.
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Funny how all of this is supposed to benefit me, and I am not asking to be benefitted in this way. I am just asking them to give me the choice to pay with Apple Pay. That simple. If their solution is that superior, then I am sure I'll embrace it when it comes out. Otherwise I think this is all smoke and mirrors from their part, and this is not for customers benefits, but only for merchants and MCX benefit. It is not clear to me what fraud protection will be there for CurrentC. They claim they have fraud protection, but don't go into details.
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).
Come on. How do you think Apple is making money off of Apple pay? Normally, mobile payments cost a few percentage more than credit cards for merchants (thats why they don't like mobile payments). Now, whats happening is that banks are getting the normal rate for credit cards. Apple gets the rest that would make up for mobile payments. Merchants would pay the same rate for mobile payments which is higher than just using a credit card. Thats why they want their own mobile payment system. If Apple pay picks up, they lose money. Why would merchants want that? Do a little thinking.
I must be blind because I didn't see it. I'll look again, but thanks.
Edit, I found it and thanks!
They aren't blocking a payment scheme in any way. They would be blocking an app - something they both do many times a day for a variety of reasons.
Look under this heading:
5. Adding a New Payment Account - Checking Account (ACH)
Near the bottom, there's "enter your personal information".
I'm torn on this. I use cash for bricks and mortar stores with small purchases but CC for large purchases and online.
Credit card theft is incredibly wide spread in the US because I think people use them with such abandon. I'd never use one at a tiny store or for small purchases.
Also, you lose a sense of the value of money when you constantly use a credit card. Buying something in cash makes you feel the transaction exactly where you should - in your wallet/purse. That doesn't happen with a credit card. And that is why a lot of people are in credit card debt to the tune of 10s of thousands of dollars. It's crazy when I hear people tell me how much they owe on their credit card. No fiscal responsibility or understanding... just the way the CC companies like it.