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mhan00
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Joined: 13 Apr 2001
Posts: 32055
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 Posted: Mon Oct 27, 2014 3:30 pm Post subject: Retailers disabling Applepay and Google Wallet in favor of CurrentC |
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| Sounds like they're shooting themselves in the foot. CurrentC requires you to link to your bank account directly, so you lose out on a lot of the fraud protection and credit benefits, and it uses QR scanning instead of NFC. Hard to see anybody opting to use this over Applepay or even Google Wallet, which isn't quite as elegant as Applepay, which probably explains why they're removing the option. |
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K2
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Joined: 25 Dec 2011
Posts: 23529
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| Posted: Mon Oct 27, 2014 3:44 pm Post subject: |
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CurrentC seems to be an awful, awful user experience and I wouldn't bother to use it. I understand they're trying to cut out the credit card transaction fees, but at what expense?
Might give ApplePay/Google Wallet a try in the future, but for now, I'm content in allowing my credit card to be a wallet-sized plastic petri dish with all of the hands that come in contact with it on a daily basis. |
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thedude1977
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Joined: 14 Jul 2005
Posts: 1914
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| Posted: Mon Oct 27, 2014 6:21 pm Post subject: |
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| Meh, so what? Oh no, people won't be able to use something no one uses. |
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mhan00
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Joined: 13 Apr 2001
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| Posted: Mon Oct 27, 2014 6:34 pm Post subject: |
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| thedude1977 wrote: | | Meh, so what? Oh no, people won't be able to use something no one uses. |
Having visited Japan, using cell phones to pay is actually incredibly convenient. I opted for a Note 4, but it sounds like Apple really got it right with Applepay. It's quick and easy to use, and far more importantly, more secure than using a physical card since the phone generates a one time token to authorize payment, so POS devices designed to steal credit card numbers are useless. Given the well documented issues recently with retail outlets like Target and Home Depot having massive leaks, this is a huge bonus. |
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K2
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Joined: 25 Dec 2011
Posts: 23529
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| Posted: Mon Oct 27, 2014 6:50 pm Post subject: |
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| Agree, think that ApplePay will eventually gain traction, especially in light of all of credit card hacking out there. Having had my credit card compromised from the Home Depot fiasco, the ApplePay solution with the dynamically generated security code for each transaction sounds like the right approach. When CurrentC fails, they'll come to their senses and add AP/GW back in the mix. |
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DuncanIdaho
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Joined: 26 Apr 2004
Posts: 17245
Location: In a no-ship
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| Posted: Tue Oct 28, 2014 9:01 am Post subject: |
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Why should I care about a store saving 2-3% transaction fees? They're not going to pass the savings on, and the process for CurrentC is terrible inconvenient to use. Plus, they're doing things like collecting health data.
Lets see..
- Give stores more personal information
- Old technology that's not secure
- Direct bank account access (for stores that lose credit card info)
- Cumbersome to use (unlock phone, unlock app, scan QR code on register screen, etc etc)
- Lose fraud protection and cashback/rewards
- Have to give them SSN and Drivers License # proof: (http://i.imgur.com/UyK9qYp.jpg)
vs.
- Swipe card
- Sign receipt
vs.
- Fingerprint unlock and tap
Apple actually came up with something incredibly secure AND something more convenient than a regular card. This CurrentC garbage is going to fail hard. Plus, what happens when Google/Apple play hardball and take their app off the app stores? Non-starter. |
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mhan00
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| Posted: Tue Oct 28, 2014 2:11 pm Post subject: |
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| ^^ The nightmare scenario for consumers would be making purchases at a drug store while picking up a prescription, having their purchases shared with their health insurance company, and then getting dinged with a premium hike because they bought some doritos and beer. |
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DaMuleRules
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Joined: 10 Dec 2006
Posts: 52652
Location: Making a safety stop at 15 feet.
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| Posted: Tue Oct 28, 2014 2:43 pm Post subject: |
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| Make them pay for the decision. Don't use CurrentC and pay with a credit card that has high fees for them, like American Express. |
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SP_Fever
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Joined: 15 Sep 2006
Posts: 3519
Location: Toronto, Canada
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| Posted: Tue Oct 28, 2014 3:17 pm Post subject: |
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why did they add the "t" in CurrentC? 
_________________
Phil Jackson (June 17th, 2009):"What was our model of this team? The Ring, the ring, that was the model. Its not just this band of gold, its the circle that's made a bond between all of these players, a great love for one another, its a great feeling." |
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DaMuleRules
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Location: Making a safety stop at 15 feet.
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DaMuleRules
Retired Number
Joined: 10 Dec 2006
Posts: 52652
Location: Making a safety stop at 15 feet.
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| Posted: Wed Oct 29, 2014 10:19 am Post subject: |
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| SP_Fever wrote: | | why did they add the "t" in CurrentC? |
They didn't add a "t". They put a "c" after "current" to give the name a sense of being timely. |
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LakersRGolden
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Joined: 13 Jan 2002
Posts: 7921
Location: Lake Forest
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| Posted: Wed Oct 29, 2014 1:25 pm Post subject: Re: Retailers disabling Applepay and Google Wallet in favor of CurrentC |
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| mhan00 wrote: | | Sounds like they're shooting themselves in the foot. CurrentC requires you to link to your bank account directly, so you lose out on a lot of the fraud protection and credit benefits, and it uses QR scanning instead of NFC. Hard to see anybody opting to use this over Applepay or even Google Wallet, which isn't quite as elegant as Applepay, which probably explains why they're removing the option. |
They are contractually obligated not to allow competing technologies. It was written into the contracts years before Applepay was public knowledge.
If Google wallet had been successful, this would have happened earlier.
Dumb contract that nobody cared about until now...... |
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TACH
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Joined: 03 Nov 2005
Posts: 28461
Location: Chillin on the Delaware.. from the Jersey Side
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| Posted: Thu Oct 30, 2014 9:01 am Post subject: Re: Retailers disabling Applepay and Google Wallet in favor of CurrentC |
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| LakersRGolden wrote: | | mhan00 wrote: | | Sounds like they're shooting themselves in the foot. CurrentC requires you to link to your bank account directly, so you lose out on a lot of the fraud protection and credit benefits, and it uses QR scanning instead of NFC. Hard to see anybody opting to use this over Applepay or even Google Wallet, which isn't quite as elegant as Applepay, which probably explains why they're removing the option. |
They are contractually obligated not to allow competing technologies. It was written into the contracts years before Applepay was public knowledge.
If Google wallet had been successful, this would have happened earlier.
Dumb contract that nobody cared about until now...... |
Also, MXC said they would not fine anybody for accepting ApplePay, but Rite Aid and CVS hve not turned NFC back on in their stores...
| Quote: | "MCX merchants make their own decisions about what solutions they want to bring to their customers; the choice is theirs. When merchants choose to work with MCX, they choose to do so exclusively and we’re proud of the long list of merchants who have partnered with us. Importantly, if a merchant decides to stop working with MCX, there are no fines."
While the lack of a fine for leaving the consortium means retailers such as CVS and Rite Aid could still pull out of the CurrentC effort and begin accepting Apple Pay, retailers are undoubtedly reluctant to do so as they view CurrentC has a key effort to escape from credit card swipe fees while maintaining the ability to mine customer information. Many have also already invested significant amounts of money in the CurrentC effort, money that would be lost if they stopped working with MCX. |
At the end of the day it about money and data, not what the customer wants... |
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TACH
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Joined: 03 Nov 2005
Posts: 28461
Location: Chillin on the Delaware.. from the Jersey Side
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| Posted: Thu Oct 30, 2014 9:06 am Post subject: |
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| I chuckled when I saw this report this moring... |
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TACH
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Joined: 03 Nov 2005
Posts: 28461
Location: Chillin on the Delaware.. from the Jersey Side
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| Posted: Thu Oct 30, 2014 9:10 am Post subject: |
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| mhan00 wrote: | | ^^ The nightmare scenario for consumers would be making purchases at a drug store while picking up a prescription, having their purchases shared with their health insurance company, and then getting dinged with a premium hike because they bought some doritos and beer. |
Or better yet, bought cigarettes. I know CVS stopped selling them and I believe Rite Aid is going to stop, but you see where I'm going with this... my insurance company hits you with a $500 fee for being a smoker... |
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Lakers#1Team
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Joined: 24 Jun 2005
Posts: 36363
Location: Nomad
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| Posted: Thu Oct 30, 2014 2:34 pm Post subject: |
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Really dumb contract that takes away existing technology in order to enforce a monopoly on the payment method that benefits the retailer more than the customer.
Customers will have the final say as they are the one filling the retailer's coffers with money. I can see consumers not shopping at the places trying to force CurrentC on them. |
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Janggoon8
Star Player
Joined: 30 Jun 2005
Posts: 1552
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| Posted: Thu Oct 30, 2014 3:04 pm Post subject: |
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| Another means to collect personal data. Why not just tattoo a barcode on our wrist already. |
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