Why is it that these types of services ultimately wind up being complex and data hungry? By contrast, Apple Pay is like a breath of fresh air. I'll cast my vote with my wallet, and let merchants know why I'm choosing to buy or not buy at their store. Walmart et.al...take note...the cream always rises to the top.
As a consumer I'm not interested in jumping through a lot of hoops simply to make a payment, especially when simpler methods are available. Also, I really don't trust supplying vendors with my secured personal information, nor do I like their asking for it.
agree, we the customers must take back the control this time and rally to support Apply Pay and even Google Wallet.
The dropping of NFC are more likely about the exclusive agreements in the CurrentC relationship than anything else. These agreements are expiring soon.
If CurrentC is about the best interest of the consumer, why does it put all the liability of fraud on the consumer? Who would connect their bank account to a system out of your control, but accept all liability of fraud?!? About half the CC fees are to cover fraud, so this is another indicator that CurrentC is much more about reducing retailer costs than consumer interests.
Take note of this folks, one day they'll be teaching this in every business and marketing course in the world as one of the most colossal and easily avoidable blunders of all time and we'll all be able to say "I was there when MCX literally told consumers they were too stupid to figure out how to pay for goods themselves".
Which leads me to my next point. The perfect anti-MCX rallying cry. It's this:
Get someone to replace the cash with a smartphone and boom, you have a clip every NFC supporting customer should be emailing to MCX and its members every time they open their stupid mouths about CurrentC
CurrentC will fail because it's easier to pay cash or use your debit card.
In Canada, we use our debit cards for purchases all the time. In fact, it is much easier than always having enough cash in your wallet. Yes, it comes directly from the checking account. It is not so bad. However, I do not know how similar our Interac system is to the CurrentCThat system.
That being said, I will not support companies like Walmart that actively block ApplePay, which is far superior.
Walmart says they have customers best interests in mind but they don't explain how is their system best for the consumers interest.
Walmart, can you explain please? What are the benefits to the customers when using your system instead of Apple Pay?
Every now and then someone stands up in the media glare and says something that will go down in tech history as worthy of the wall of shame and humiliation. We can all remember them, even if they become blurry over time. From Michael Dell to the good folks at RIM
... now Walmart, let us come back in a few years and revisit that statement shall we?
In Canada, we use our debit cards for purchases all the time. In fact, it is much easier than always having enough cash in your wallet. Yes, it comes directly from the checking account. It is not so bad. However, I do not know how similar our Interac system is to the CurrentCThat system.
That being said, I will not support companies like Walmart that actively block ApplePay, which is far superior.
The debit card is apparently the most vulnerable to hacking of all payment methods from what I've read, so Canadians should be rushing to embrace ?Pay.
I just realized that Bank Of America, at least, allows their [I] debit cards [/I] as well as their [I] credit cards [/I] to be enrolled in Apple Pay.
[B][I]This affords the same convenience, security and privacy of Apple Pay when you pay with a[COLOR=blue] debit card [/COLOR]... The merchant sees nothing but an anonymous one-time token.[/I][/B]
Apple Pay with credit or debit -- you pick 'em.
Compare that with CurrentC (if/when it arrives) -- where you're essentially giving [B][I] open access [/I][/B] to your bank account -- to the merchant and whomever else is in the processing chain.
Ya' know ... The banks might be reluctant (or be regulated not) to provide this [B][I] open access [/I][/B] to your bank account.
If Apple Pay takes off, Walmart, CVS, etc. will scramble to adopt it and will use this same quote again at that time: "Ultimately, what matters is that consumers have a payment option that is widely accepted, secure and developed with their best interests in mind."
If Apple Pay takes off, Walmart, CVS, etc. will scramble to adopt it and will use this same quote again at that time: "Ultimately, what matters is that consumers have a payment option that is widely accepted, secure and developed with their best interests in mind."
Everything's in place to adopt it. No scrambling required.
This will pressure Apple to develop an API for ApplePay. I'm sure it is coming, but it's development priority will need to be raised. At this point, ApplePay only allows customers to receive usage points by the CC companies. Apps like Belly and Levelup give customers benefits based on the store.
ApplePay is secure, an absolute requirement. MCX is deadly unsecure and absolutely invasive as requiring ban account access. That should be the end of the story.
Just my two cents here though. MCX is completely dead in the water. It was designed around the idea that merchants could sell their customer's data with other like-minded folk. Worse, it was designed with the idea that customers are too stupid to see this is what is going on. Before ?Pay, I would have agreed with them, but now customers have a much easier and cleaner approach, and MCX knows their method is completely flawed.
ApplePay had over a million users within 72 hours of launch. What will CurrentC have when fully rolled out...50,000 including company employees that may be strong-armed or otherwise coerced into participation? By that time, how many will ApplePay have? This will reach a critical mass, and these retailers will quietly start to accept ApplePay, but for now they have to double-down on what they are realizing is the wrong horse.
It's nice when you can beat the competition. It's even better when you can make the competition beat itself.
Watch the CurrentC retailers next few earnings calls. That is where the buck stops. If they have bad earnings that will determine the direction they go it.
Comments
LOL!!!
The missed their true calling they shouldn't be in business they should either be actors or politicians if they can say that with a straight face.
If CurrentC is about the best interest of the consumer, why does it put all the liability of fraud on the consumer? Who would connect their bank account to a system out of your control, but accept all liability of fraud?!? About half the CC fees are to cover fraud, so this is another indicator that CurrentC is much more about reducing retailer costs than consumer interests.
Take note of this folks, one day they'll be teaching this in every business and marketing course in the world as one of the most colossal and easily avoidable blunders of all time and we'll all be able to say "I was there when MCX literally told consumers they were too stupid to figure out how to pay for goods themselves".
Which leads me to my next point. The perfect anti-MCX rallying cry. It's this:
Get someone to replace the cash with a smartphone and boom, you have a clip every NFC supporting customer should be emailing to MCX and its members every time they open their stupid mouths about CurrentC
CurrentC will fail because it's easier to pay cash or use your debit card.
In Canada, we use our debit cards for purchases all the time. In fact, it is much easier than always having enough cash in your wallet. Yes, it comes directly from the checking account. It is not so bad. However, I do not know how similar our Interac system is to the CurrentCThat system.
That being said, I will not support companies like Walmart that actively block ApplePay, which is far superior.
Every now and then someone stands up in the media glare and says something that will go down in tech history as worthy of the wall of shame and humiliation. We can all remember them, even if they become blurry over time. From Michael Dell to the good folks at RIM
... now Walmart, let us come back in a few years and revisit that statement shall we?
The debit card is apparently the most vulnerable to hacking of all payment methods from what I've read, so Canadians should be rushing to embrace ?Pay.
[B][I]This affords the same convenience, security and privacy of Apple Pay when you pay with a[COLOR=blue] debit card [/COLOR]... The merchant sees nothing but an anonymous one-time token.[/I][/B]
Apple Pay with credit or debit -- you pick 'em.
Compare that with CurrentC (if/when it arrives) -- where you're essentially giving [B][I] open access [/I][/B] to your bank account -- to the merchant and whomever else is in the processing chain.
Ya' know ... The banks might be reluctant (or be regulated not) to provide this [B][I] open access [/I][/B] to your bank account.
CurrentC is collecting a bunch of data- are we sure this is not secretly owned by google?
Because they give out plenty of 'palm grease' ;-)
Everything's in place to adopt it. No scrambling required.
This will pressure Apple to develop an API for ApplePay. I'm sure it is coming, but it's development priority will need to be raised. At this point, ApplePay only allows customers to receive usage points by the CC companies. Apps like Belly and Levelup give customers benefits based on the store.
ApplePay is secure, an absolute requirement. MCX is deadly unsecure and absolutely invasive as requiring ban account access. That should be the end of the story.
Just so you know, Apple already has an API for ?Pay. Here is the URL: https://developer.apple.com/apple-pay/Apple-Pay-Identity-Guidelines.pdf
Just my two cents here though. MCX is completely dead in the water. It was designed around the idea that merchants could sell their customer's data with other like-minded folk. Worse, it was designed with the idea that customers are too stupid to see this is what is going on. Before ?Pay, I would have agreed with them, but now customers have a much easier and cleaner approach, and MCX knows their method is completely flawed.
Accept both.. They are not mutually exclusive morons!
U want to help the consumer.. Offer them choice ...not limit their choice !
"best interests in mind"
What a fracking joke!
They will have to make CurrentC accept EBT.
These stores are too heavily invested in MCX and CurrentC to do anything other than fight Apple for now. From http://www.tuaw.com/2014/10/27/a-closer-look-at-currentc-the-reason-why-cvs-and-rite-aid-are-d/
ApplePay had over a million users within 72 hours of launch. What will CurrentC have when fully rolled out...50,000 including company employees that may be strong-armed or otherwise coerced into participation? By that time, how many will ApplePay have? This will reach a critical mass, and these retailers will quietly start to accept ApplePay, but for now they have to double-down on what they are realizing is the wrong horse.
It's nice when you can beat the competition. It's even better when you can make the competition beat itself.
Watch the CurrentC retailers next few earnings calls. That is where the buck stops. If they have bad earnings that will determine the direction they go it.
Like I needed ANOTHER reason NOT to go to Walmart! LOL!
I always feel like I need to take a shower after going to Walmart!