CVS joins Rite Aid in blocking Apple Pay in "CurrentC" plan to collect more customer data

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  • Reply 321 of 502
    charlitunacharlituna Posts: 7,217member
    Quote:

    Originally Posted by mdriftmeyer View Post





    Change your CPA. Your files should all be submitted in PDF secure format.

     

    When it is YOUR money and YOUR taxes so if it's such a huge deal to YOU then by all means, fire your CPA over it. But if its my money and I don't give a shit that my CPA wants paper it's none of your business. 

  • Reply 322 of 502
    jbdragonjbdragon Posts: 2,297member
    iaeen wrote: »
    Suddenly it all makes sense. This is all about avoiding credit card fees.

    Of course CurrentC is about that. The thing is Apple worked out a lower transaction fee to use Apple Pay! Using a credit card is normally around 2.8% or a little more. Apple Pay from what I hear is 1.5% and Apple's tiny cut comes out of that. It's lower because of the security. Google Wallet though is no cheaper then a credit card.

    Most businesses eat this transaction fee cost. A few don't like gas stations where they have a credit price and a cash price.

    I will never use CurrentC. No direct access to my bank account through my checking account. There's no protection like there is with a credit card over fraud!!!

    By the way, I can print from my iPhone easily with Air Print really easy at home and work without a single air print printer in site! There's a number of options to do it including through Google!
  • Reply 323 of 502
    asciiascii Posts: 5,936member
    Quote:

    Originally Posted by vqro View Post



    Apple can just block their stupid app.

    Good point. I wonder if they considered that possible retaliation before blocking Apple Pay.

  • Reply 324 of 502
    boredumbboredumb Posts: 1,418member

    The unfortunate fact of the matter is, that nobody, but nobody in the business world,

    has any reason to help give Apple any piece of this colossal pie - not merchants, not issuing banks, 

    not competing NFC-pay approaches, not any of the credit card issuers. 

     

    The only motivation any of them have, is to ensure they don't piss off any Apple-lovers

    by being seen to be a factor in ?Pay's failure.

     

    Sure, consumers, were they uniformly alert, informed, and discriminating would have a reason,

    but quality and ease-of-use have never been a guarantee of success, and all those other entities are in a position,

    in one way or another, to erect road-blocks, penalties, and disinformation galore...and, watching it slowly unfold,

    I'm less sanguine about its widespread adoption than I was when I first heard about it.

     

    ...we'll see.

  • Reply 325 of 502
    Quote:

    Originally Posted by gerbinto View Post

     

    Apple insider needs to do more research before they make an article that is being used to fan the fanboy fire. While I am sure these companies want to collect more information, that is not the complete story. There is also the little things of credit card fees that these merchants don't want to pay anymore.  You see, Apple Pay still is a credit card transaction which means merchants will stay have to pay those banking fees on each transaction.  On the other hand CurrentC is a direct withdrawal from the banking account so there are no banking fees.  Maybe if Apple wanted to pay all the merchant fees then the merchant will push their standard.  As it currently stands Apple would be the only beneficiary of Apple pay since it would more than likely become a Monopoly while the merchants would have to eat the fees.  Once CurrentC roles out, and if it works, I predict more retailers jumping ship so that they can saving hundreds if not millions in credit card transaction fees that are paid to the banks.

     

    Source: http://www.savingadvice.com/articles/2014/10/26/1029604_drugstores-cvs-and-rite-aid-ditch-apple-pay-as-payment-option.html

     

    EDIT:  Example, Target and their Red card.  That's attached to your bank account and they give 5% off of the purchase when used.  They give that cash back as a incentive for using the card because each of those transactions on that card helps target avoid the bank fee.


     

    So tell me: If merchants were so fed up with credit card fees, why haven't they ripped the credit card terminals out of their cash registers and posted a sign that says: "CASH ONLY"? They're STILL ACCEPTING credit cards. They're STILL PAYING credit card fees. Disabling NFC terminals had nothing to do with credit card fees, and you know it.

     

    Large retailers already know that a certain percent of their customers are going to use credit cards each year, so they adjust prices as needed to cover those fees. If they don't, they're stupid. Those fees are just another retail operating expense, like paying rent, insurance, utilities, maintenance, etc.

     

    Saying Apple Pay is about "credit card fees" or about "becoming a monopoly" (not "Monopoly", which is a board game didn't you know) is a red herring argument. What you wrote didn't even make sense. Apple is never going to be a "monopoly" in contactless payments--any more than they can be a "monopoly" in smartphones. Those NFC terminals they shut off at CVS and Rite Aid weren't even specifically enabled for Apple Pay. PayWave, PayPass, and PayExpress cards should also work, in addition to Google Wallet. The NFC terminals supported standards that even CurrentC could use, if they wanted to.

     

    No, this was about protecting CurrentC from the threat of NFC. Apple Pay is just a catalyst for NFC.

  • Reply 326 of 502
    koopkoop Posts: 337member
    Quote:
    Originally Posted by gerbinto View Post

     

    Apple insider needs to do more research before they make an article that is being used to fan the fanboy fire. While I am sure these companies want to collect more information, that is not the complete story. There is also the little things of credit card fees that these merchants don't want to pay anymore.  You see, Apple Pay still is a credit card transaction which means merchants will stay have to pay those banking fees on each transaction.  On the other hand CurrentC is a direct withdrawal from the banking account so there are no banking fees.  Maybe if Apple wanted to pay all the merchant fees then the merchant will push their standard.  As it currently stands Apple would be the only beneficiary of Apple pay since it would more than likely become a Monopoly while the merchants would have to eat the fees.  Once CurrentC roles out, and if it works, I predict more retailers jumping ship so that they can saving hundreds if not millions in credit card transaction fees that are paid to the banks.

     

    Source: http://www.savingadvice.com/articles/2014/10/26/1029604_drugstores-cvs-and-rite-aid-ditch-apple-pay-as-payment-option.html

     

    EDIT:  Example, Target and their Red card.  That's attached to your bank account and they give 5% off of the purchase when used.  They give that cash back as a incentive for using the card because each of those transactions on that card helps target avoid the bank fee.


     

    The article dedicates more time to the collection of information, and not the transaction fees so I agree that's more of the reason why they would implement it.

     

    From a consumer perspective, most retailers aren't going to share in the savings with their payment platform, it goes back to the shareholders. And we'll lose services like Zero Fraud, Airline Miles and customer service from a bank directly. Plus we lose other perks like extended warranties, extended return periods and travel insurance. We also lose the convenience and security of NFC services like Apple Pay and Google Wallet.

     

    And the last time I checked banks pay their employees fairly with good benefits and vacation time. Don't think i'm going to be cheer leading for Walmart anytime soon.

     

    Edit: And keep in mind that CC companies are the middle man for transaction disputes. Wouldn't Best Buy love to handle the dispute you have with an employee politely assuming you wanted a geek squad plan and putting it on for you, and you find out two months later.

  • Reply 327 of 502
    Eventually, they'll have no choice but to submit.
  • Reply 328 of 502
    tmaytmay Posts: 6,255member
    Quote:
    Originally Posted by wigby View Post

     



    You mean the apps like the Target app created to use Apple Pay? The same one that Apple promotes? Yeah, Target is also committed to using CurrenC too. I'm an Apple fan too but don't be so blind as to how these things work. Apple needs to play ball with these retailers no matter how unreasonable they act. If Apple starts blocking everything they don't like, you're going to see a much larger backlash against Apple than against any retailer. Remember, it's much easier to change phones from Apple to Android than it is to change where you live and what store you must buy things from for some people.


    Might be that Target will not be allowed to use Apple Pay by the consortium rules. We will surely find out, but Apple doesn't need to play ball with these retailers. All Apple has to do is continue evolving Apple Pay such that there isn't any reason for Apple iPhone 6 users to "play ball", and frankly, CurrenC is nothing if now a wet dream at this point for the members, and will remain that for at least until early 2015.

     

    The fact that iPhone and Android users are being targeted, pretty much covers the bulk of the mobile payment market. Pissing them off isn't going to make a very profitable quarter of the holiday season. This is one of those times when Android and iPhone users should create a collective voice to change the narrative that retailers have created for themselves, which is that CurrenC is going to create a more profitable retail environment for them; it won't, and for some, it might hasten their demise (thinking of you, Best Buy!).

  • Reply 329 of 502
    boredumb wrote: »
    The unfortunate fact of the matter is, that nobody, but nobody in the business world,
    has any reason to help give Apple any piece of this colossal pie - not merchants, not issuing banks, 
    not competing NFC-pay approaches, not any of the credit card issuers. 

    The only motivation any of them have, is to ensure they don't piss off any Apple-lovers
    by being seen to be a factor in ?Pay's failure.

    Sure, consumers, were they uniformly alert, informed, and discriminating would have a reason,
    but quality and ease-of-use have never been a guarantee of success, and all those other entities are in a position,
    in one way or another, to erect road-blocks, penalties, and disinformation galore...and, watching it slowly unfold,
    I'm less sanguine about its widespread adoption than I was when I first heard about it.

    ...we'll see.


    Consumers benefit from ?Pay due to convenience, security and privacy
    Merchants benefit from ?Pay due to lower credit card fees
    Banks benefit from ?Pay due to decreased fraud
  • Reply 330 of 502
    Quote:

    Originally Posted by iaeen View Post





    Suddenly it all makes sense. This is all about avoiding credit card fees.



    But the way they are avoiding credit card fees is by shifting fraud liability from the CC agency to the customer.

     

    So you may pay 2% less on your purchases (or more likely you will still pay the same amount while the retailer gobbles up the savings), but if someone hacks into their systems and steals your information and buys a $1000 computer under your name, you will simply have to bear that cost.

     

    The 2-3% CC companies charge provide consumers with a legitimate service. I am not a fan of the CC companies, but that doesn't mean they don't serve a purpose.

  • Reply 331 of 502
    Quote:

    Originally Posted by koop View Post

    The article dedicates more time to the collection of information, and not the transaction fees so I agree that's more of the reason why they would implement it.

    The ultimate irony is that Apple Pay, with its significantly greater security, will almost certainly lead to lower CC fees for the merchants because the cost of fraud will reduce.

     

    There is a reason banks, CC companies, as well as retailers who don't have their heads up their asses, are pushing Apple Pay so enthusiastically. The increased security is a cost saving for everyone. In addition, the smarter retailers realize that the reduced wait lines because of the ease of paying with Apple Pay (and especially when compared to the cumbersome CurrentC process) will probably be worth more than the 2-3% of CC fees that they pay.

     

    Anyways, all you need to know which technology is better is to compare the companies backing them. While CurrentC is backed by the likes of Walmart, Target, Best Buy etc. ApplePay is backed by Macy's, Starbucks, Whole Foods, etc.

     

    The CurrentC backers is a who's who of retailers who recently lost customer CC information.

  • Reply 332 of 502
    Quote:

    Originally Posted by gerbinto View Post

     

    EDIT:  Example, Target and their Red card.  That's attached to your bank account and they give 5% off of the purchase when used.  They give that cash back as a incentive for using the card because each of those transactions on that card helps target avoid the bank fee.


     

    I am sure that 5% savings will look great when you see unexplained charges in the thousands on your checking account with no recourse because Target got hacked and lost your data.

  • Reply 333 of 502
    chiachia Posts: 713member
    Originally Posted by koop View Post

    Your self-confession?

     

    Everybody who wishes to live has no choice but to consume oxygen, water and food.

    An undeniable fact whatever you think.

    So we are all consumers unless you're someone who grows all their own food and has their own water source.

  • Reply 334 of 502
    solipsismxsolipsismx Posts: 19,566member
    addicted44 wrote: »
    But the way they are avoiding credit card fees is by shifting fraud liability from the CC agency to the customer.
    addicted44 wrote: »
    I am sure that 5% savings will look great when you see unexplained charges in the thousands on your checking account with no recourse because Target got hacked and lost your data.


    I can see that as a possibility, but I can't find any info that backs that up.
  • Reply 335 of 502
    Originally Posted by kent909 View Post

    243 comments and counting.

     

    Maybe if you’d read any of those comments you wouldn’t come across as a moron.

     

    Originally Posted by ChiA View Post

    Therefore it's our fundamental nature to consume.




    I was going to make a point about this, but the thread’s not in PO.

     

    Originally Posted by kent909 View Post


    How dare they.

     

    What’s your problem? Let me guess: we should be outraged about “real issues” like people starving in Nambutu or whatever? We don’t care. Not here not now, we don’t. Get over it.

  • Reply 336 of 502
    chiachia Posts: 713member
    Originally Posted by Dick Applebaum View Post
    In other news ...



    In a joint press announcement, Walmart, BestBuy, CVS, RiteAid and other members of the CurrentC mobile payment consortium:

    Due to the overwhelming requests to use Apple Pay ... we have decided to close our doors to all customers until CurrentC is available

     

    It is true in a sense, they have closed the door on those who wish to pay with NFC Apple Pay, VISA Pay Wave or MasterCard PayPass.

    I suspect neither VISA nor MasterCard aren't happy about this development.

     

    Those retailers are saying "We don't consider your money and your custom worth our while".

     

    They favor a system which can throw discounts and promotions at the customer.

    Yet discounts and promotions demonstrate a lack of confidence that someone will purchase from your store instead of your competitor's store,

    i.e. a business that is otherwise struggling to attract custom.

     

    It's a poor move by a business to cut off a revenue stream when it is struggling unless it's considered as economically unviable to pursue.

    Well, time will tell.  I believe Apple Pay will triumph as unlike CurrentC and like VISA and MasterCard, ApplePay can be used globally and is more convenient and secure.

  • Reply 337 of 502
    kent909kent909 Posts: 731member


    What’s your problem? Let me guess: we should be outraged about “real issues” like people starving in Nambutu or whatever? We don’t care. Not here not now, we don’t. Get over it.
    Are you revealing yourself to be a sociopath?
  • Reply 338 of 502
    Due to illness I am a very large CVS pharmacy customer. Just sent CVS feedback I am moving my business to Walgreens because they choose not to help me protect my credit information with ApplePay. After the recent problems @ Target, Home Depot and others, retailers who are taking a short sided view are off my shopping list. If CVS thinks customers are handing over their account access information to MCX they need their head examined. They can bring out their competing solution next year, but don't block something that works now. Let the best solution win in the marketplace.
  • Reply 339 of 502
    Originally Posted by kent909 View Post

    Are you revealing yourself to be a sociopath?

     

    Yep.

     

    Oh, wait, no, see, that’s not even remotely close to a valid response. Thanks for confirming my guess, though!

  • Reply 340 of 502
    chiachia Posts: 713member
    Originally Posted by kent909 View Post
    Buy buy buy, consume consume consume.

    ...

    You can't buy oxygen at Cvs, The oxygen you consume while there you do not pay for. 



     


    You may not buy it at Cvs but you point out that you still have to consume it.


    If all you need is the air that you breathe then all is good; I suspect you need the food and water too but as you say, not necessarily from Cvs.


     



    Originally Posted by TheWhiteFalcon View Post

    Well, nitrogen more than oxygen, but I suppose being accurate is so passé these days.

    As you're a stickler for being accurate kent909 is correct, your body consumes the oxygen in the sense that it removes some of it from the air you inhale; your body isn't interested in the nitrogen and it's exhaled unchanged.

     

    And your body will make use of that Cvs oxygen unless you hold your breath the entire time you're in the store.

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