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@John Chisum: Maybe not ! Here’s why. The decision by Rite Aid Corp. RAD, +0.84% Wal-Mart Stores Inc. WMT, +0.27% and other retailers to either reject or drop Apple Pay comes down to three issues. The first is obvious: Many chains don’t have the readers in place chain-wide to accept payments. That’s going to shift soon.
The second is fees. Apple is taking a cut of the processing fees, but those fees are paid by the issuing banks to Apple. Users, including both consumers and retailers, don’t see it. There’s some misunderstanding about that. Retailers do pay fees, but they’re not paying anything extra to Apple.
Third, and this is the big one, is customer data. Apple Pay is nearly anonymous. There’s no information that can be gleaned. It’s almost like using cash. That’s a big problem for retailers who crunch data. If you buy a table saw at the big-box hardware store, they use your address, sales history, whatever income information they can produce on you, to target you in the mail. Regards, Ted
Rite Aid/CVS are part of MCX. CurrentC, the competing system by MCX (Merchant Customer Exchange) is really a poor alternative that shows tremendous disregard for the customer - as bad as it initially sounded to me, there are a few things now coming to light (not only does it want you to pay via ACH/bank account - that was known - but now I find out to use the service it wants your driver's license # and social security # and wants access to your health information for some bizarre reason) that I wasn't aware of that are really to the point where I have to wonder why in the world anyone would use it.
It's an attempt to benefit the retailer at the expense of the consumer. For a number of reasons, I don't think anyone's going to even use CurrentC, but the retailers want to push for their mobile wallet that doesn't use credit cards. In the meantime, progress with mobile payments and payment safety isn't made. As upsetting as this is in terms of effecting the progress of mobile payments, consumers should be infuriated at how this takes payment safety several steps backwards.
To me this is really the retail version of the music industry fighting digital like mad when downloads started. Retail is literally fighting something that could enhance the customer experience and provide payment safety in favor of something that benefits the retailer and takes payment safety several steps backwards.
If you look on the Google Play store, the CurrentC app has a few thousand reviews with an average rating of 1.1/5. People are pissed. People writing to CVS that they'll take their business to Walgreens, instead.
Discussion of a possible Alibaba/Apple partnership with Apple Pay/Alipay this morning.
@Ted, I think consumer privacy is a growing idea and Apple has been talking about it lately. A replacement for the mass market style would be the beacon system which would alert you individually to any specials. If CVS/RiteAid were to use that system you would get personal ads in the store based on your purchase history. It does not supply that info to the store however.
The beacon system is being used for the World Series at each stadium. A trial run so to speak.
One good benefit out of all of this would be the reduction of junk mail.
The beacon system is being used for the World Series at each stadium. A trial run so to speak.
One good benefit out of all of this would be the reduction of junk mail.
The beacon system is really quite appealing in a number of regards, but personally, CurrentC really shows me that retailers really don't give a crap about the consumer and it makes me believe that they will fight digital changes (whether it be beacons, Apple Pay or something else) that could benefit them. So, when people continue to increasingly shop online (Amazon, etc) I'm not going to wonder why.
What would delight me to no end is to have Google and Apple block the CurrentC app off the app stores in the same manner that Verizon/ATT/T-Mo blocked the Google Wallet app because T/V/Tmo were trying to push their mobile wallet. If Google/Apple were to block the CurrentC app, that'd be it.
I researched CurrentC since I haven't heard of it before. The reviews are indeed pretty negative. There is no consideration for the consumer's privacy. Just like the stores that ask for a phone number or zip code. I tend to not shop at those places any longer.
You noted: "There is no consideration for the consumer's privacy. Just like the stores that ask for a phone number or zip code."
For a number of years (before smart phones in particular), I have warned the older adults within our family and some friends to not offer their phone number at the checkout register.
The reason, is that I could be in the checkout line and overhear the phone number; walk to my vehicle in the parking lot, use my laptop and pull up that persons home address. This is more related to the older group of a population, as they maintained land lines and had their phone number listed in the public directory. These phone numbers were linked to a ready to view map. This was particularly easy to do using Google. I am sure there are numerous smart phone apps that are even better today. Google also allowed one to place the phone number in their search, and to then be able to disable the ability of a phone number/map linkage. I recall doing this disable for about 25 senior citizens I knew at the time. Most of these seniors did not understand the thinking about this; as all of them were kind and trusting folks. I noted that the nasty side of this was that "bad folks" could "watch" that they may be purchasing expensive items, such as jewelry; and could then easy find where they lived, if they gave their home phone number to the checkout person.
As to zip code and phone numbers............I would provide false info. The word "no" always works. Pretty sad, eh? But this is the world in which we live.
Comments
Regards,
Ted
http://www.bloomberg.com/news/print/2014-10-26/apple-pay-face-challenge-as-cvs-rite-aid-reject-system.html
Here’s why. The decision by Rite Aid Corp. RAD, +0.84% Wal-Mart Stores Inc. WMT, +0.27% and other retailers to either reject or drop Apple Pay comes down to three issues. The first is obvious: Many chains don’t have the readers in place chain-wide to accept payments. That’s going to shift soon.
The second is fees. Apple is taking a cut of the processing fees, but those fees are paid by the issuing banks to Apple. Users, including both consumers and retailers, don’t see it. There’s some misunderstanding about that. Retailers do pay fees, but they’re not paying anything extra to Apple.
Third, and this is the big one, is customer data. Apple Pay is nearly anonymous. There’s no information that can be gleaned. It’s almost like using cash. That’s a big problem for retailers who crunch data. If you buy a table saw at the big-box hardware store, they use your address, sales history, whatever income information they can produce on you, to target you in the mail.
Regards,
Ted
It's an attempt to benefit the retailer at the expense of the consumer. For a number of reasons, I don't think anyone's going to even use CurrentC, but the retailers want to push for their mobile wallet that doesn't use credit cards. In the meantime, progress with mobile payments and payment safety isn't made. As upsetting as this is in terms of effecting the progress of mobile payments, consumers should be infuriated at how this takes payment safety several steps backwards.
To me this is really the retail version of the music industry fighting digital like mad when downloads started. Retail is literally fighting something that could enhance the customer experience and provide payment safety in favor of something that benefits the retailer and takes payment safety several steps backwards.
If you look on the Google Play store, the CurrentC app has a few thousand reviews with an average rating of 1.1/5. People are pissed. People writing to CVS that they'll take their business to Walgreens, instead.
Discussion of a possible Alibaba/Apple partnership with Apple Pay/Alipay this morning.
Lengthy article on CurrentC
http://techcrunch.com/2014/10/25/currentc/
Merchant Customer Exchange
http://www.mcx.com/
The beacon system is being used for the World Series at each stadium. A trial run so to speak.
One good benefit out of all of this would be the reduction of junk mail.
What would delight me to no end is to have Google and Apple block the CurrentC app off the app stores in the same manner that Verizon/ATT/T-Mo blocked the Google Wallet app because T/V/Tmo were trying to push their mobile wallet. If Google/Apple were to block the CurrentC app, that'd be it.
You noted: "There is no consideration for the consumer's privacy. Just like the stores that ask for a phone number or zip code."
For a number of years (before smart phones in particular), I have warned the older adults within our family and some friends to not offer their phone number at the checkout register.
The reason, is that I could be in the checkout line and overhear the phone number; walk to my vehicle in the parking lot, use my laptop and pull up that persons home address. This is more related to the older group of a population, as they maintained land lines and had their phone number listed in the public directory. These phone numbers were linked to a ready to view map. This was particularly easy to do using Google. I am sure there are numerous smart phone apps that are even better today. Google also allowed one to place the phone number in their search, and to then be able to disable the ability of a phone number/map linkage. I recall doing this disable for about 25 senior citizens I knew at the time.
Most of these seniors did not understand the thinking about this; as all of them were kind and trusting folks. I noted that the nasty side of this was that "bad folks" could "watch" that they may be purchasing expensive items, such as jewelry; and could then easy find where they lived, if they gave their home phone number to the checkout person.
As to zip code and phone numbers............I would provide false info. The word "no" always works.
Pretty sad, eh? But this is the world in which we live.
Catch
http://www.zerohedge.com/news/2014-10-29/day-after-tim-cooks-veiled-threats-applepay-alternative-gets-hacked
http://www.cnbc.com/id/102132750?trknav=homestack:topnews:1
So, the alternative that asks you for way more information than Apple Pay gets hacked before it even gets out of the testing phase.