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Walmart Announces Apple Pay Competitor 'Walmart Pay' for iOS
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This isn't about convenience, this is about Walmart not wanting to pay Apple and other CC processors the transaction fees. They want to keep it to themselves. I can only imagine people in line in front of me:
"What is this QR Dilly Bob thing? This darn technology. Hold on, let me find the app.. Now where was it..... Oh there it is.. oh! a camera, let me take a selfie..."
The lines will be enormous.
"What is this QR Dilly Bob thing? This darn technology. Hold on, let me find the app.. Now where was it..... Oh there it is.. oh! a camera, let me take a selfie..."
The lines will be enormous.
No. The real "battle" is an equity exchange. Meaning that if it IS more challenging to use than cash or a credit card, the consumer must get something else in return. Discounts, ties to a loyalty program, or otherwise. People will tolerate things more complex if there's a benefit.
umm... seems whatever u do, merchants want their way to do it..
You have Apple pay. and support it, but then a merchant comes along with their own QR payment within their own app.
The only good about this, the app can be used on any iPhone even without Apple pay.
This reminds me more of a "bridge-the-gap" Shall i use Android pay or Apple pay.?
But now, on the same phone. Their must be something these merchant will get in return as to why they offer it, than just something that will only work in Walmart. Maybe "use the walmart app to pay and get points"
You have Apple pay. and support it, but then a merchant comes along with their own QR payment within their own app.
The only good about this, the app can be used on any iPhone even without Apple pay.
This reminds me more of a "bridge-the-gap" Shall i use Android pay or Apple pay.?
But now, on the same phone. Their must be something these merchant will get in return as to why they offer it, than just something that will only work in Walmart. Maybe "use the walmart app to pay and get points"
I've seen lots of struggles with Apple Pay, Android Pay, etc. I think you might be sliiiiiiiightly exaggerating
You have to take the long view and look beyond the problems (or lack thereof) that you experience if your card is lost or stolen.
Credit card fraud is not free. Everyone pays for it, including you.
Yes, the bank will attempt to reverse the charges to the merchant. If successful, the merchant has to raise their prices for all of their legitimate customers to make up the loss.
But, there are cases where the merchant has complied with the agreement, and must be paid. So, the issuing bank must eat the loss. They have to make that up through higher fees for all of their customers -- both consumers and merchants.
The fees to the merchants are primarily levied by the credit card transaction fee -- which varies from around 2-3% of the transaction total, depending on the issuer and the transaction processor. And who pays that merchant fee? You do, through higher prices.
knowing what you buy is probably exactly what they want. I used the savings catcher on the walmart app, and next thing i know I'm getting emails asking me to rate my purchases. seriously! ask my cats how they like the frisks cat food and arm and hammer cat litter.
Unfortunately,, the banks charge YOU for finding out. "Yes, it's much better for the owner of a card to PAY to hunt down fraud."
They just need want the money. Your using the bank as a service, they should be the ones to pay when their is a fraud/breach on customer accounts, not the user.
Yet another app to install, configure and maintain...
And only works at Walmart Stores???
Why, why!!!???
And only works at Walmart Stores???
Why, why!!!???
UGC content is gold for retailers. It's the #1 "trusted" source of information. Q&A and Reviews are what drive more sales than just about anything. That information also increase SEO.
What a stupid idea and cumbersome to say the least. More and more places in my town are accepting Apple Pay so I don't really need Walmart and they sure as hell are not going to get my credit card numbers.
I have to be honest, living in a city without a car means that I never go out to the boonies where most walmarts live. I think I have driven by a walmart when traveling and maybe have gone into one once in my life. So, I am far from any kind of expert on them from a consumer perspective. However, on a technology angle, walmart has very good analytical systems which allows them to see buying trends. This in turn drives their negotiations and product placement on the shelf. Walmart is well known for having fantastic data and leveraging it to maximum potential possible.
Given that, I can certainly understand why they are so scared of Apple Pay since it will not give them any data to analyze. They are likely concerned that without the data, it will eliminate their competitive advantages I have just mentioned. I also understand that they are trying, through CurrentC, and even this new system to draw on your bank account instead of going through the credit card company to eliminate the transaction fees. In the end, Wal-Mart may be large enough to have an impact in certain sectors of the market.
From my personal perspective as a consumer, I am all for Apple Pay, precisely because I do not want the vendors to profile me. I also believe that from a security perspective, Apple Pay and their tokenization is the strongest security of any of the touchless payment systems on the market today.
Edit - As of the recent changes to Apple Pay, Walmart could use a loyalty program connected to Apple Pay to garner the desired information, so I am not sure what benefits they see from going it on their own, other than trying to eliminate the credit card fee which maybe is potential for their customer base, but in my world that is a non-starter.
Given that, I can certainly understand why they are so scared of Apple Pay since it will not give them any data to analyze. They are likely concerned that without the data, it will eliminate their competitive advantages I have just mentioned. I also understand that they are trying, through CurrentC, and even this new system to draw on your bank account instead of going through the credit card company to eliminate the transaction fees. In the end, Wal-Mart may be large enough to have an impact in certain sectors of the market.
From my personal perspective as a consumer, I am all for Apple Pay, precisely because I do not want the vendors to profile me. I also believe that from a security perspective, Apple Pay and their tokenization is the strongest security of any of the touchless payment systems on the market today.
Edit - As of the recent changes to Apple Pay, Walmart could use a loyalty program connected to Apple Pay to garner the desired information, so I am not sure what benefits they see from going it on their own, other than trying to eliminate the credit card fee which maybe is potential for their customer base, but in my world that is a non-starter.
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Did you shop there at all before Apple Pay and use a CC? If so - they already have it.
Yes, because to a merchant terminal they are indistinguishable.
I don't know if Google and Samsung Pay use tokenization (see below), but Samsung Pay can be used with a magnetic card reader.
No, it's a lot more than that. Apple Pay was the first implementation of a new EMV standard that uses tokenization to complete a transaction between merchant and issuing bank without revealing the actual account number to the merchant -- at all. There is also a lot more security features to avoid other types of fraud. Many articles have been written about how Apple Pay works -- rather than assuming, take a few minutes to do a search for one.
Google Wallet "sort of" did that, by issuing you a new debit card number, and washing the transaction through THEIR system before sending it to the issuing bank. But, it also meant that Google had record of every one of your transactions. Apple is briefly involved in validation of your card when it is added to the Wallet, but not thereafter.
Does cross-platform really matter when both Apple Pay and Android alternative support the same technology standards? If a store accepts Apple Pay other NFC based payment options will work. And how frequently do most people switch platforms? My guess is not very often.
Having to open an app and use the camera to scan a QR code seems quite inefficient and inelegant. I don't really see what the consumer benefits are unless Walmart chooses to use this app to offer coupons and other deals you can't get outside the app.
What do you expect when you control neither the hardware nor the software?
Especially with Apple not opening up NFC for 3rd party use.
This is just an admission that Walmart decided to ditch MCX and CurrentC and go it alone. It also means that CurrentC is essentially dead (well, deader than it was before) as Walmart was its strongest backer. It was already crumbling with Target jumping ship but I expect this will accelerate quickly now.
Also, regardless of implementation details this is in no way a competitor to Apple Pay as it's limited to Walmart only.