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Walmart Announces Apple Pay Competitor 'Walmart Pay' for iOS
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Retailers already have a system like this. They call it "A bank check".
The retailer displays a readable code on a screen (the price) and then it is authenticated on your paper based input device using two factor encryption (someone with a pen ... who can sign the check) and which you then present to the cashier who then takes the resulting code (bank routing / acct details) and scans them into the system to authorize payment.
I think anyone here who has stood behind someone using this system will agree that it truly is an efficient means of currency transfer, and gives the user a chance to chat about grandkids, the price of tomatoes, and how much they hate (insert group). Using an apple watch (or iOS/android phone based wallet application) to buy our two items means we miss out on that opportunity for social interaction.
The retailer displays a readable code on a screen (the price) and then it is authenticated on your paper based input device using two factor encryption (someone with a pen ... who can sign the check) and which you then present to the cashier who then takes the resulting code (bank routing / acct details) and scans them into the system to authorize payment.
I think anyone here who has stood behind someone using this system will agree that it truly is an efficient means of currency transfer, and gives the user a chance to chat about grandkids, the price of tomatoes, and how much they hate (insert group). Using an apple watch (or iOS/android phone based wallet application) to buy our two items means we miss out on that opportunity for social interaction.
Again, without credentials, only small amount can be stolen, so risk is very low... go to phone, open app, sign in, and block it - it will take me like 30-60 seconds, no big deal.
This is what u have to do event with no nfc cards... and still, less hassle/expensive than having an iPhone stolen
PS: getting new card will také like 10 days max... free of charge
I couldn't go 10 days without being able to buy food. I only have one debit card and thats all I need. As soon as more places take Apple Pay I can stop carrying it, I already don't carry a wallet. Just my ID and my debit card.
That is if the customers and cashier are up for chatting with someone who's holding up the line to use 1970's "technology.'
I agree. Apple is not the mother of everything in the world. If Apple Pay is the best thing after the slice of bread, then let it win the completion. This is what always Apple community is worried of.. Competition.
It's WAY more simple(r) to just pull out my debit card and swipe and sign than to do all those steps they require…
Thieves do. Its not ApplePay that drives my decision to shop at places that accept it, its the level of security ApplePay offers. I mean to say its not specifically because its an Apple product that I prefer to use it for payment. If another brand made it as easy as ApplePay and as secure I would likely use it. I think you know what I mean and I know, you're being funny but in a way you're right but it's OK. It's still hard to find the places that are setup and ready to use so they only control about 10% of my shopping at the moment.Oh, so now Apple dictates where I shop?
You've probably already had several replies, but here's another:
Apple Pay offers better security over other NFC solutions with TouchID, and tokenized security codes. If someone takes my iPhone, they can't use my Apple Pay. If someone breaks into a merchant's payment system (think Target or Home Depot) and steals my payment information, it will be useless.
Oh the irony!! Apple fans saying Walmart is greedy. Thanks for the morning laugh!
I tried to use Apple Pay at Walmart, only because I could see they had an NFC reader, and it went nearly all the way through the transaction--till the (Walmart) pos screen said "contactless payment not allowed."
So then I used my chip CC.... and, no, a pin is not required. This took at least twice as long as just swiping the damned thing. And you have to leave the card in the chip reader for the whole transaction. Really, in most cases old-school swiping is the fastest way to pay.
Mike
This really isn't competition, though. If they truly want to compete, they should offer the same security precautions as offered by Apple Pay.
Apple charges the banks, not the retailers.I've seen lots of struggles with Apple Pay, Android Pay, etc. I think you might be sliiiiiiiightly exaggerating
There are more stuff to carrying a wallet than credit cards. Your license, your children's pictures (i know, who carry physical photos these days), your various membership cards for whatever store or services you have.
I know to each his own, but I would always need a wallet until these other things can be electronically represented as well and until every store accepts whatever the desired mobile payment system is.
When retailers say they don't support Apple Pay, chances are they mean all forms of NFC mobile payment systems. They just happen to only point out Apple Pay because Apple.
If I was unsure if a place accepted Android Pay on my Nexus 6P, I'd ask the cashier "Do you accept Apple Pay?" Lol. Why muddy the water with asking for Android Pay when most of the front line troops are uninformed enough as it is?
IMO, the reality of retail/grocery store pricing is that it varies by region and market, so while what you're saying may be true (based on stores near you), what he's saying may also be true (based on stores near him). In my market, Kroger is one of the more expensive grocery stores. Food Lion and Walmart/Walmart Market are two of the discount ones. Doesn't sound like (based on your post) Kroger is expensive in your market.
It's also been my experience that once you get away from urban areas, the number of Krogers/Safeways/Aldis/etc decrease quickly. Walmart seems to be one of the few big box retailers that will put a store in the middle of nowhere precisely because of this. So in that sense, Walmart may not literally be the only option, but it may be the only option that doesn't involve a drive to a neighboring rural town.
I use the Starbucks card in Passbook/Wallet. So I've got one place for "cards."
And since Starbucks accepts ApplePay via their app to refill my card, I don't have to worry about my CC info being stolen should they have a data breach.
I never shop at Walmart, even if I have to go out of my way to avoid doing so, so the Walmart system doesn't impact me at all, but I would never entrust my payment information to an online Walmart system.
I just can't figure this one out, though. Walmart joined the Current-C system to avoid MasterCard and Visa fees, which they've publicly gone on record to say how much they hate. Current-C was going to use debit card and checking accounts to bypass the major credit cards and save Walmart the transaction fees. Yet this new "Walmart Pay" can use major credit cards per the article. So what's special about this system, then? They may as well just have used ApplePay and other NFC systems and saved themselves the cost of developing and maintaining a proprietary system if they're so concerned with transaction fees. Makes no sense to me.
The Walmart C-Suite idiot who approved this dead on arrival payment solution probably makes millions a year and about to collect a fat year end bonus. He'll be canned next year when this thing goes down in flames. You heard it here first ladies and gentlemen! haha