1. Akshay Masand's Avatar


    After CVS and Rite Aid, both of which are members of the Merchant Customer Exchange, pulled support for Apple Pay this past week, Walmart (another member of the consortium) offered its take on why Apple Pay is not being implemented. According to a Walmart representative, MXC is reportedly thinking of consumers when it comes to denying support for Apple Pay. The following was said regarding the matter:

    There are certainly a lot of compelling technologies being developed, which is great for the mobile-commerce industry as a whole. Ultimately, what matters is that consumers have a payment option that is widely accepted, secure and developed with their best interests in mind. MCX member merchants already collectively serve a majority of Americans every day. MCX's members believe merchants are in the best position to provide a mobile solution because of their deep insights into their customers' shopping and buying experiences.
    The whole issue has reportedly turned into a hot topic over the past few days. When Apple Pay previously launched with iOS 8.1, many iPhone 6 and 6 Plus owners were excited to try out the new mobile payment solution. MCX partners, Rite Aid and CVS both supported NFC-based touchless transactions (including Apple Pay) but that seemed to have changed by the weekend. Starting Saturday, the two chains had shut down NFC transactions most likely based on contractual obligations to MCX.

    MCX has been working on CurrentC which has been in development since 2012. That being said, CurrentC is far from Apple’s streamlined solution. It functions differently and isn’t as secure. The mobile payment space in general is estimated to grow into a multi-billion business and MCX is looking to get a piece of that by bypassing credit card network fees. If things work out for Apple in the space, the swiping fees for Apple Pay payments may help the tech giant move further into the industry depending on the performance and adoption of their solution.

    As of right now, it’s too early to tell as which payment option is the frontrunner but Apple Pay does bode well thus far. It’ll be interesting to see how things turn out going forward.

    Source: BusinessInsider via AppleInsider

    Twitter: @AkshayMasand
    2014-10-29 03:48 AM
  2. nealh's Avatar
    LMAO at Wal-Mart. They don't care about the consumer except their dollar.
    MCX CurrentC does not sound safer and I don't need them having any of my information or data.

    There solution sounds like, looks like and smells like crap.

    I will not use it period. There is no way credit/debit cards are going anywhere so they won't win that battle. Consumers are ingrained with credit cards and when the consumer realized how invasive this CurrentC is. They will be upset(ie the attorney will swoon in- can't you see the lawsuits waiting to happen).
    2014-10-29 05:01 AM
  3. StuG III's Avatar
    LMAO at Wal-Mart. They don't care about the consumer except their dollar.
    MCX CurrentC does not sound safer and I don't need them having any of my information or data.

    There solution sounds like, looks like and smells like crap.

    I will not use it period. There is no way credit/debit cards are going anywhere so they won't win that battle. Consumers are ingrained with credit cards and when the consumer realized how invasive this CurrentC is. They will be upset(ie the attorney will swoon in- can't you see the lawsuits waiting to happen).
    Do you think ANY company cares about the consumer? NO. Shareholders make big business decisions and they're fixated on how much money it will generate.

    CurrentC is definitely invasive and has more potential for disaster but from another perspective majority of the population of the US (at least) have credit card debt, and wouldn't CurrentC promote people to only spend what they have?
    2014-10-29 05:44 AM
  4. WhosTaylor's Avatar
    CurrentC is definitely invasive and has more potential for disaster but from another perspective majority of the population of the US (at least) have credit card debt, and wouldn't CurrentC promote people to only spend what they have?
    I agree with the only spending what money you have, but making any big purchase requires you to have some form of decent credit. Honestly though... Why would you alienate payment methods? I feel like this will do way more harm to these companies than it will do good. I'm gonna go in there and use my credit card just to spite them. >
    2014-10-29 07:01 AM
  5. StuG III's Avatar
    I agree with the only spending what money you have, but making any big purchase requires you to have some form of decent credit. Honestly though... Why would you alienate payment methods? I feel like this will do way more harm to these companies than it will do good. I'm gonna go in there and use my credit card just to spite them. >
    Their intention is to prop up the flood gates so CurrentC will have time be a real rival to Apple Pay. I doubt it will work. You are right though, CurrentC use doesn't build credit at all.
    2014-10-29 07:21 AM
  6. politicalslug's Avatar
    The funny thing about this is it totally ignores how people spend money. Americans buy on credit. How many customers of Walmart can actually afford to buy everything direct from their bank accounts? My guess: not many.
    They can have my jailbreak when they pry it from my cold dead fingers.
    2014-10-29 08:23 AM
  7. NSXrebel's Avatar
    The funny thing about this is it totally ignores how people spend money. Americans buy on credit. How many customers of Walmart can actually afford to buy everything direct from their bank accounts? My guess: not many.
    More like EBT
    2014-10-29 09:43 AM
  8. holyshnikes's Avatar
    It uses qr codes for payment right? Yeah, that's not secure at all.
    2014-10-29 11:36 AM
  9. politicalslug's Avatar
    More like EBT
    No. More like credit. Credit, as in they don't have the money in their accounts and have to make monthly payments. EBT is just another way of using debit or check.
    They can have my jailbreak when they pry it from my cold dead fingers.
    2014-10-29 11:47 AM
  10. NSXrebel's Avatar
    No. More like credit. Credit, as in they don't have the money in their accounts and have to make monthly payments. EBT is just another way of using debit or check.
    EBT is Welfare, aka foodstamps. That's not the same as debit or check.
    2014-10-29 01:06 PM
  11. nealh's Avatar
    Do you think ANY company cares about the consumer? NO. Shareholders make big business decisions and they're fixated on how much money it will generate.

    CurrentC is definitely invasive and has more potential for disaster but from another perspective majority of the population of the US (at least) have credit card debt, and wouldn't CurrentC promote people to only spend what they have?
    I agree. No company cares, that was part of my point. Wall-Mart can't convince they are doing this because they "care". CurrentC seems very intrusive and I'm not letting a big corporation or all these corporations access to this info. Not only can bad things occur but why give them more stuff to sell about.

    Annoys me to no end, companies can. Obtain information about people and turn around and use it basically anyway they want.

    I don't think CurrentC will promote more careful spending but that's my opinion( this is an interesting point you make though). How many people do a good job of balancing their checkbook? Idk. I see a lot of over spending and overdrafts for banks??!!!
    2014-10-29 01:16 PM
  12. smittyjf's Avatar
    I Live and Die by my Pay Pal Debit Card. It uses my bank account but works like debit with no PIN. It basically comes out either the next day or the day after.
    I also get 1.5% back every month so I use it for every possible payment including online bill payment that accepts a CC payment (those that do not charge a fee of course)
    I'm near 6,000 in cash back in the last 8 years since I average about 4,000 a month usage. Unfortunately Pay Pal and Apple won't play nice so I will not be using it until they do.
    Last edited by smittyjf; 2014-10-29 at 01:37 PM.
    2014-10-29 01:35 PM
  13. bmwraw8482's Avatar
    With mcx we'll all get to wait behind some moron trying to open the app and use it instead of old ladies writing checks... But we'll still get the old ladies writing checks too. Lol
    Apple pay is so simple and quick, why not give us the choice?
    2014-10-29 01:49 PM
  14. SpiderManAPV's Avatar
    With mcx we'll all get to wait behind some moron trying to open the app and use it instead of old ladies writing checks... But we'll still get the old ladies writing checks too. Lol
    Apple pay is so simple and quick, why not give us the choice?
    Because, money!

    ......beware......
    Just your friendly neighborhood Spider-Man!
    2014-10-29 02:32 PM
  15. RandyTG's Avatar
    "MCX's members believe merchants are in the best position to provide a mobile solution because of their deep insights into their customers' shopping and buying experiences." They may have the insights into consumer behaviors, but they don't have the security insights as they are the ones that are getting hacked.
    2014-10-29 02:34 PM
  16. nealh's Avatar
    [I]"MCX's members believe merchants are in the best position to provide a mobile solution because of their deep insights into their customers' shopping and buying experiences."
    This laughable to me!
    2014-10-29 02:54 PM
  17. LeslieBee's Avatar
    Do you think ANY company cares about the consumer? NO.
    While it's true that most companies couldn't care less about their employees, there are a few, like Costco, who not only care about their customers, but their employees as well.

    Which is partly why I'm a diehard Costco customer, and you couldn't pay me to set foot in a Walmart or Sam's Club.
    2014-10-29 03:21 PM
  18. gramirez85's Avatar
    CurrentC is retailer oriented. If successful and widely adopted, they would save billions, because they wouldn't have to pay CC fees. They aren't looking out for the consumer, just their bottom line.
    2014-10-29 03:41 PM
  19. bmwraw8482's Avatar
    If Walmart wanted looked out for a consumer they could open an extra register when lines get long...
    2014-10-29 03:58 PM
  20. edwilk55's Avatar
    Amazes that WalMart truly seems to live in a bubble where they think they have the majority of consumers fooled. The ONLY people that believe WalMart gives two sh!ts about them are the Honey BooBoos and they don't use electronic payment systems. Pathetic really! They have a chance to have a secure / easy to use / popular payment system that will save them time/money in the end and fail to adopt. Idiots!
    2014-10-29 04:14 PM
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