Several Retailers to Begin Testing Apple Pay Rival CurrentC

[FriendlyMackle]

Quintessential example of clownfunding. It's just like crowdfunding, except that instead of getting what you bargain for, you get a poke in the eye.

Yes, this was my first and only crowdfunding experience. It seemed legit and the concept was promising. At this point I'm just glad it wasn't too expensive a lesson. If they do ever ship the final version (which our somewhat regular updates say will happen...sometime), I'll be surprised and pleased. Because I've really already accepted that it is unlikely to ship. I'll definitely be much more cautious in the future about this type of project.

 

[tdar]

If it's a barcode it might be the reader they have. Having worked at a library, you need special readers for tiny barcodes you find on computer equipment or other ones that can read them off of LCD displays. It's not one size fits all.

Yes it's true...Best buy readers can not read off the glass on your iPhone!

 

[PotatoLeekSoup]

Wait, wasn't it supposed to launch in 2015?

I've been testing CurrentC and it's truly awful compared to Apple Pay.

Care to elaborate?

 

[BruiserB]

Lower income and recently bankrupted individual that can't get credit cards might still be able to use this instead of Apple/Google play.

If those people have a bank account for CurrentC to link to, then they surely also have at least a debit card linked to said bank account. Debit cards can be loaded into Apple/Google Pay.

 

[639051]

And we have a list of retailers to avoid. I have zero issue avoiding Walmart and others, I hate that store with every ounce of my being.

 

[tdar]

There's almost never a good argument for saying that there should be more government regulation.

That's a political opinion...not a fact.

 

[dannyyankou]

Care to elaborate?

It's so clunky. First, you have to enter in a 4 digit pin to even open the app. Then you have to tap "pay". Then you have to tell the cashier you're paying with a mobile payment. Then the cashier scans a QR code. Then you have to select the payment method on your phone. Then you have to sign or select if you want cash back. It's a six step process.

 

[chriscrowlee]

CurrentC - what an incredibly lame name...

Sounds like a High School Mock-Marketing Project came up with the name. It's really bad.

 

[tdar]

Lower income and recently bankrupted individual that can't get credit cards might still be able to use this instead of Apple/Google play.

Even they can get a debit card and use Apple Pay.

 

[chriscrowlee]

That's a political opinion...not a fact.

To be a fact it has to be able to be proven, and it's been proven time and time again that more regulation and bigger government almost never produce better result for consumers\citizens. Not an opinion, a fact. It's the first thing you learn in any Political Science class.

 

[Fortimir]

I would prefer just getting some Chip and PIN readers/cards here in the US.

Actually just had to use EMV for the first time in the United States this week at, of all places, Walmart. And it was not in the best part of town, either.

 

[drewyboy]

If you're willing to give CurrentC all the information they want for their full benefits, you'd be an absolute FOOL and deserve any fallout once they get hacked. Oh, and it'll take only a lawsuit or two to wipe away all the cost savings of taking the CC companies out of it.

 

[chriscrowlee]

Actually just had to use EMV for the first time in the United States this week at, of all places, Walmart. And it was not in the best part of town, either.

Yeah they went live with their new system in April. If you swipe a card with EMV, it'll make you insert it or decline the transaction. However, where we trail the world is chip and pin. Almost every issuer in the US is chip and signature... aka if someone steals your card it's no more secure. Not sure why America didn't follow the rest of the world and go chip and pin.

 

[tdar]

To be a fact it has to be able to be proven, and it's been proven time and time again that more regulation and bigger government almost never produce better result for consumers\citizens. Not an opinion, a fact. It's the first thing you learn in any Political Science class.

I've been in many Pol Sci classes and never learned that....but we are off topic and in danger of violating forum rules so I'll stop here.

 

[Rogifan]

Can retailers charge a different price if you pay by credit card vs. cash or debit card? I'm not talking about discounts or rewards for using store credit. I'm talking about showing two different prices - one for credit card, one for non-credit.

I'm still trying to understand what benefit to consumers CurrentC offers. Is CurrentC going to bring retail prices down? And with many consumers living paycheck to paycheck how many can afford to not put things on credit? When Tim Cook was asked about this he said "it turns out people love their credit cards". I don't think CurrentC will change that dynamic no matter how many rewards they offer.

 

[BruiserB]

I'll go with that. But Lowes, who sells stuff like nails and cement (decidedly low-tech goods, from an electronics standpoint) can read the bar code, but high-tech Best Buy can't. Just pointing out that it seems odd that after 3+ years, Best Buy hasn't upgraded to keep up with modern tech. And it's not the size of the bar code...I've got a 6 Plus and in landscape mode that makes the bar code like 4 inches wide.

It's not the size, it's the fact that it's reading from something emitting light (your phone screen) vs. something reflecting light (their barcoded card). The typical red laser scanner has trouble with screens. Newer scanners are actually more like cameras and look at the image and analyze it. You are correct that Best Buy (at least the store you go to) seems to be using older technology.

 

[tomnavratil]

CurrentC is such a big joke from the start.

 

[BruiserB]

Can retailers charge a different price if you pay by credit card vs. cash or debit card? I'm not talking about discounts or rewards for using store credit. I'm talking about showing two different prices - one for credit card, one for non-credit.

I'm still trying to understand what benefit to consumers CurrentC offers. Is CurrentC going to bring retail prices down? And with many consumers living paycheck to paycheck how many can afford to not put things on credit? When Tim Cook was asked about this he said "it turns out people love their credit cards". I don't think CurrentC will change that dynamic no matter how many rewards they offer.

Well Target gives 5% off your order if you use their RedCard which seems to be a non-mobile-phone version of what CurrentC is in that it's linked directly to your bank account and pulls money by an ACH debit.

 

[Jeaz]

Can't really blame retailers for trying to get around credit cards fees (guess who has to pay for all those rewards you're earning).

Well, you. All costs on the retailers just slings back to the consumer.

 

[duaneu]

Presumably you still had to sign. That's called Chip & Signature (or Chip & Sign). You skip the signing and the PIN steps with Apple Pay or Contactless.

Not necessarily, it depends how the retailer has their software set up. I've used Apple Pay at a number of places where I'm still required to sign.

 

[Plutonius]

Can't really blame retailers for trying to get around credit cards fees (guess who has to pay for all those rewards you're earning). But this will probably fail, as others have pointed out.

That is just one of the goals. Another major goal is customer data sharing among the member stores.

 

[duaneu]

Can retailers charge a different price if you pay by credit card vs. cash or debit card? I'm not talking about discounts or rewards for using store credit. I'm talking about showing two different prices - one for credit card, one for non-credit.

I bought my first Mac back in 1991 at a local computer store that gave a discount for not paying with a credit card. And many gas stations give discounts for paying cash.

 

[mikecorp]

approximately 10 years ago Japan had NFC fully operational. You did not need to scan anything, you could pay for a coke from vending machines, pay you fare in busses, shopping was so easy. I have no idea, why would anyone would want to scan a barcode?

 

[loekf]

Well, you. All costs on the retailers just slings back to the consumer.

As someone mentioned earlier, just support chip and pin in your shop. Ok, the money is immediately drawn from your checking account, but:

1) no involvement from the retailer. Money goes directly to his/her account.
2) no privacy breaches
3) no need to give some organization access to your account

Personally I don't understand the obsession of Americans with creditcards, even more because in the US a creditcard is like a loan. Here in Europe, even when you pay via credit card, the money is taking from your account 4 weeks later.

 

[winston1236]

Did I just read QR code? I would have never downloaded this anyway but probably 1 out 100 people know what to do with a QR code. They were a bad idea and never took off because of that.