Like many, I am excited by Apple Pay and the potential to disrupt payment services with customer security in mind. I am also peeved that companies like CVS who are backing CurrentC are now disabling NFC payments. But what is CurrentC really about? Techcrunch has the best article I've found so far on really understanding the motivation behind CurrentC: http://techcrunch.com/2014/10/25/currentc/. It is worth reading to understand what is at play here. Essentially, there are two areas that need disruption: - security for customers (Apple Pay) - credit card fees for merchants (CurrentC) Why should you care about the latter? Briefly, merchants have to pay fees + percentage of sale on each transaction. Say, 2% plus $0.35. If you use an "affinity" (miles/rebate) card, the merchant gets charged even more on the transaction, and the credit card company makes even more out of the deal, kicking some of it back to the consumer to lure the consumer to make more money for the credit card system. This increases cost to merchants and end prices to customers, while pros include fraud protection, extended warranties, and other consumer benefits perceived to the individual (but weigh against consumers in the aggregate). CurrentC is essentially an effort to break to merchants' dependence on this system, but may be deemed a success on their end if they can just gain leverage on the credit card companies to reduce the costs. In the end, this potentially is good for the consumer, too, but the pessimist side of me feels that the merchant would keep the profit with no benefit to the consumer! CurrentC is horribly flawed, especially from the consumer side, but the really unfortunate thing is that neither CurrentC nor Apple Pay is a solution to BOTH problems and in being separate cause them to conflict with each other. We either need them to join up or we need someone to step in with a disruptive solution to both issues. Or we will just have to wait until CurrentC fails! ---------- CurrentCis also about merchants being able to mine customer data. However, there are merchant solutions for that that do not conflict with Apple Pay and therefore is left out of original post.