Apple downplays MCX's Apple Pay embargo, cites 'enthusiastic' response from supporting retailers and
Apple on Monday issued a statement touching on recent events that saw Apple Pay embargoed by MCX members Rite Aid and CVS, saying the mobile payment rollout has been largely successful and continues to gather steam as additional retailers pledge support.
In response to the Apple Pay prohibition, Apple told Business Insider that it has received an "overwhelmingly positive" response from both customers and merchants, noting many retailers are already seeing the benefits of its touch-less payment solution.
Compared to Apple Pay, however, CurrentC appears to be less secure and harder to use. The system requires customers to download a special app, which will generate a QR code cashiers scan on checkout, or alternatively scan a code generated on the cashier's terminal. Purchase history can be tracked, but in return customers get incentives like support for loyalty rewards programs.
Perhaps most troubling is CurrentC's request to link to users' bank accounts, a dangerous proposition given current levels of digital thievery. Apple Pay, on the other hand, features automatic point-of-sale terminal recognition, secure Touch ID fingerprint integration and seamless tokenized payment handling.
Apple Pay rolled out last week as part of the latest iOS 8.1 maintenance update. With the capability activated, iPhone 6 and 6 Plus owners can load in credit card
In response to the Apple Pay prohibition, Apple told Business Insider that it has received an "overwhelmingly positive" response from both customers and merchants, noting many retailers are already seeing the benefits of its touch-less payment solution.
Over the weekend, drug store chains Rite Aid and CVS began blocking NFC transactions in preparation of its own brand of mobile payments known as CurrentC. The system is being developed for the Merchant Customer Exchange (MCX), a consortium of big-name retailers of which both Rite Aid and CVS are members. MCX is spearheaded by industry giants Walmart, 7-11 and Best Buy, among many others.The feedback we are getting from customers and retailers about Apple Pay is overwhelmingly positive and enthusiastic. We are working to get as many merchants as possible to support this convenient, secure and private payment option for consumers. Many retailers have already seen the benefits and are delighting their customers at over 220,000 locations.
Compared to Apple Pay, however, CurrentC appears to be less secure and harder to use. The system requires customers to download a special app, which will generate a QR code cashiers scan on checkout, or alternatively scan a code generated on the cashier's terminal. Purchase history can be tracked, but in return customers get incentives like support for loyalty rewards programs.
Perhaps most troubling is CurrentC's request to link to users' bank accounts, a dangerous proposition given current levels of digital thievery. Apple Pay, on the other hand, features automatic point-of-sale terminal recognition, secure Touch ID fingerprint integration and seamless tokenized payment handling.
Apple Pay rolled out last week as part of the latest iOS 8.1 maintenance update. With the capability activated, iPhone 6 and 6 Plus owners can load in credit card
Comments
It's only a matter of time. "Current C" is a poorly thought out solution that only benefits retailers. Apple Pay protects and is designed for ease of use with customers in mind.
Apple wins.
I have to support Apple Pay. I was never going to support an app that wants my SSN and DL and ACH Debit and health information. That's just a non starter for me. This information would be more secure posted up on my Facebook Page than with CurrentC.
I have to support Apple Pay. I was never going to support an app that wants my SSN and DL and ACH Debit and health information. That's just a non starter for me. This information would be more secure posted up on my Facebook Page than with CurrentC.
I'll stick with cash for these backward-thinking retailers.
Apple wins.
http://www.businessinsider.com/walmart-war-against-apple-pay-the-iphone-payments-system-2014-10
Maybe. That is still up for debate.
I'll stick with cash for these backward-thinking retailers.
They love cash.
I'll stick with cash for these backward-thinking retailers.
Why would you keep patronizing these retailers?
They love cash.
Sure, no credit card fees but also no marketing information they can exploit.
Why would you keep patronizing these retailers?
I'll go wherever I get the best value. It's never all in one place.
This news has hit big today (we've talking about it here on AI since, when was it, last Friday?).
The silly meme in almost every article seems to be that Apple is colonizing the retailers' checkout counters: Someone please explain to me, how in the heck is this even true? Why wouldn't the store know what I bought, when I bought it, and what price? For example, how else can I get after-sales service, do returns, etc.?
I predict Apple is going to win this one -- but it won't be overnight -- and when it does so, it'll be huge. The free publicity that ApplePay is getting on this in the media is priceless!
I have to support Apple Pay. I was never going to support an app that wants my SSN and DL and ACH Debit and health information. That's just a non starter for me. This information would be more secure posted up on my Facebook Page than with CurrentC.
Social Security number, Driver's license and access to ACH debit account and your health information!
That sounds like an absolute disaster and a nightmare waiting to happen!
No way in hell would I ever give out such information!
Anybody who signs up for that is not too smart in my opinion, and many of them will surely regret it soon enough.
Business Insider lol.
I'll stick with cash for these backward-thinking retailers.
They love cash.
So does most of mankind.
They love cash.
well, they love cash "flow". it takes time to get that cash deposited at the bank, it all depends on how fast they can get the cash into their accounts receivable. After all, the name of the game in retail is "credit" the real money is made by earning interest asap right?
It seems to me that the retailers just got greedy. Avoiding the fees charged by the credit card companies is a good goal, and if they had limited themselves to that objective, I might have been supportive. But they got greedy when they tried to turn this into a way to mine customer data. That's a huge mistake. It would have been hard enough to fight the credit card companies over the fees. Now they're fighting a war on two fronts -- both the credit card companies and customers. (or three fronts, if you count picking a fight with the most profitable company in the world that also happens to have the best brand).
This news has hit big today (we've talking about it here on AI since, when was it, last Friday?).
The silly meme in almost every article seems to be that Apple is colonizing the retailers' checkout counters: Someone please explain to me, how in the heck is this even true? Why wouldn't the store know what I bought, when I bought it, and what price? For example, how else can I get after-sales service, do returns, etc.?
I predict Apple is going to win this one -- but it won't be overnight -- and when it does so, it'll be huge. The free publicity that ApplePay is getting on this in the media is priceless!
er its called a receipt!
I was coming here to say as much. They're tabloid media, should be taken as seriously as HuffPo or VentureBeat, which is to say not at all.
I can't wait to see Apple and the banks take these guys out at the kneecaps. The retailers don't know what's coming.
Did you happen to read the comments in that article? Only the uneducated BI author (who is unable to do basic math with single digit and two digit numbers) feels this way.
Masochistic Customer eXperience