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Apple Pay is Refused by Walmart, Best Buy, CVS and Rite Aid

dgstorm

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Just because Apple was able to secure a partnership with a large number of retailers for their new Apple Pay NFC mobile payment service, doesn't mean all retailers are welcoming it with open arms. In fact, several of the biggest retailers are refusing to offer access to Apple Pay, including Walmart, Best Buy, CVS and Rite Aid.

It turns out that these companies are working together to try and get their own mobile payment platform started. They are all part of something called the Merchant Customer Exchange (MCX) which is a consortium of companies working to develop something called CurrentC.

What's interesting about CurrentC is that it completely bypasses the Credit Card companies. Here's a quote with more of the details,

Unlike Apple Pay, CurrentC will not use credit cards. Instead, the app will connect directly to a customer’s bit account. When a purchase is made, the merchant must scan a QR code on the smartphone to initiate a payment. The credit card companies are thus left out of the entire payment process.

Furthermore, CurrentC will also collect data about a buyer’s shopping habits across the stores part of the MCX network — also something entirely different from what Apple does with Apple Pay — in order to better target customers with special deals and loyalty programs.

Finally, while Apple protects Apple Pay transactions with a variety of technologies, including the secure NFC chip, the Touch ID fingerprint scanner and tokenization, it’s not clear how CurrentC is supposed to protect payments in the future.

It's hard to see this CurrentC product getting enough momentum to catch on with consumers, especially since it isn't as easy to use as Apple Pay. It looks like we are getting ready to enter a phase of "mobile payment platform wars," with offerings from Apple, Google and now this MCX consortium clogging up things even further. Which one do you think will come out on top?

Source: BGR
 

scifan57

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I think that one of the main motivations for these companies setting up their own payment system, besides not having to pay a commission to Apple for Apple Pay, is the data mining and market research they'll be able to do based on the user's buying habits.
 

Alude904

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I like that companies are trying to get on their own and create competition. Competition is good. However, while apple themselves may not collect data through apple pay, other companies do so anyone who thinks they'll stick with Apple pay for that reason is mislead. However. I am going to think that Apple pay is more secure out of the gate and Will hold up against mcx.
 

scifan57

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I like that companies are trying to get on their own and create competition. Competition is good. However, while apple themselves may not collect data through apple pay, other companies do so anyone who thinks they'll stick with Apple pay for that reason is mislead. However. I am going to think that Apple pay is more secure out of the gate and Will hold up against mcx.
Businesses that accept Apple Pay won't be able to collect any customer data from buyers who use Apple Pay to purchase items. No customer details are passed to the merchant. He doesn't know the customer's name, address, credit card number, or any banking details.
 

MasterChat

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Amazing. I am interest to watch how CurrentC will be used in the marketplace and more interested how credit card companies will behave.
 

APX7000

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I think that one of the main motivations for these companies setting up their own payment system, besides not having to pay a commission to Apple for Apple Pay, is the data mining and market research they'll be able to do based on the user's buying habits.

Exactly. Why do you think stores sometimes ask for your zip code when making a purchase?

When you swipe a credit card, the store gets your Name and CC #. That's it. By asking your zip code, the retailer can put an address now with your name for their own data mining. The stores take your name and the zip code you told them and cross reference it to get your complete address.

I always give them a false zip code.
 

bear7962

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Exactly. Why do you think stores sometimes ask for your zip code when making a purchase?

When you swipe a credit card, the store gets your Name and CC #. That's it. By asking your zip code, the retailer can put an address now with your name for their own data mining. The stores take your name and the zip code you told them and cross reference it to get your complete address.

I always give them a false zip code.
I have been reading the articles on CurrentC. Nowhere do they mention customer protection. They will require your bank account numbers, your drivrr's license # and your Social Security Number. And they are going to store it all in their system. So when they get hacked, and money is withdrawn from your bank account, you have no system to get your money back and then their is the whole identity theft thing...the only thing it offers the consumer is a coupon. It's just another way to make more money for the retailer. Apple Pay has some benefits for me, and some protections. It's a no brainer for me, I won't consider using CreditC.
 

luis.nervo

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Apple Pay is by far more secure, faster and easier. The big problem is that it works only with Apple devices. How can Apple Pay "win this war" if the majority of people won't be able to use?
 

bear7962

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Apple Pay is by far more secure, faster and easier. The big problem is that it works only with Apple devices. How can Apple Pay "win this war" if the majority of people won't be able to use?
The store devices that will accept Apple Pay also will take Google Wallet. The majority of people can access one or the other. In addition, with the new federal rules governing credit cards (which go into effect in Oct 2015) all stores accepting credit cards should have the type of devices that can process Apple Pay and Google Wallet. I think this may already be the case in the EU.
 

luis.nervo

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The store devices that will accept Apple Pay also will take Google Wallet. The majority of people can access one or the other. In addition, with the new federal rules governing credit cards (which go into effect in Oct 2015) all stores accepting credit cards should have the type of devices that can process Apple Pay and Google Wallet. I think this may already be the case in the EU.

I wish i lived in EU or USA, not in Brazil.
 

bear7962

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Not yet. Neither Google Wallet nor Apple Pay. It's available in the USA only.
I keep reading articles from people who have used both in Europe. NFC devices can accept these types of payments unless the retailer programs it not to is what I have read. But, of course, I do not know this first-hand.
 

scifan57

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I keep reading articles from people who have used both in Europe. NFC devices can accept these types of payments unless the retailer programs it not to is what I have read. But, of course, I do not know this first-hand.
Walmart, Best Buy, and the others in on this CurrentC plan have disabled their NFC devices to prevent the use of Apple Pay and any other kind of contactless payments.
 

theNtrain

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Best Buy and Rite Aid are on the way out anyway. Next topic


Alright, alright, alright....
 

bear7962

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Walmart, Best Buy, and the others in on this CurrentC plan have disabled their NFC devices to prevent the use of Apple Pay and any other kind of contactless payments.
As stated by the OP. So the war has started but as I said, I am choosing to not use CurrentC so I will still carry my plastic if I must go to Best Buy. But, as it turns out, my last purchase at Best Buy was when I activated my IP 5 and found out the Apple Store had no cases for it. They keep sending me emails but I am finding no reason to shop.. I guess I am part of their "dwindling numbers".
 
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