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Mr. Negative Pants, ,
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14,796 Posts
Discussion Starter · #1 ·
CurrentC Is The Big Retailers' Clunky Attempt To Kill Apple Pay And Credit Card Fees

They've spearheaded a consortium of retailers to develop their own in-house "electronic wallet" system.
  • It uses QR codes instead of NFC
  • You pay with a linked bank account and not a credit card
  • You have to provide them with your banking info, driver's license and SSN, which all get stored "in the cloud"
  • Retailers and MCX/CurrentC have no liability in the event of fraud... you're on the hook if their data gets compromised

This is doomed to fail from the get-go. Their retail partners have had to sign three-year exclusivity deals, requiring them to not accept NFC forms of payment like Google Wallet and Apple Pay.

Their distaste for the credit card fees is seriously clouding their judgement. I can't see this catching on at all.

CurrentC: Unlock your phone, launch the CurrentC app, scan a QR code and show it to the cashier.

Appel Pay: Put your finger on the sensor and tap the card reader.

Who the fuck is going to want to use CurrentC?
 

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Dream Crusher
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21,053 Posts
Well, they're going to try to draw people by offering rewards programs and discounts.

We'll see how this turns out. I don't understand why we can't use the European CC/debit payment systems which are far more secure.
 

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I don't like it.
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11,071 Posts
QR codes should mean they don't have to have new hardware right?

People don't really seem to want to use NFC anyways. I use it regularly, but it's still a feature most people won't use.
 

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Banned
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21,673 Posts
QR codes should mean they don't have to have new hardware right?

People don't really seem to want to use NFC anyways. I use it regularly, but it's still a feature most people won't use.
The problem is that it's less secure than both Apple Pay and Google Wallet, and the technology has already been shown to be easily hacked.

So, thanks, but no thanks.
 

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Mr. Negative Pants, ,
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14,796 Posts
Discussion Starter · #5 ·
We have had chip-and-pin and NFC credit cards here in Canada for a few years. It boggles my mind going to places that still use swipe-and-sign.

Even when i was doing business travel, i thought it was funny when a cab or limo driver would have to pull out his little credit card impression machine and fill out a carbon-copy credit card slip. I can't believe that shit still exists in 2014.

No amount of incentives could convince me to provide my banking information, driver's license and SSN to a start-up working with a consortium of retailers. That's all anybody needs to swipe your identity in one security breach. No thank you!

And it's not at all about improving the customer experience. It's to save the retailers money and improve their margins. I find QR codes to be pretty useless technology. I mean, they're neat and all, but i can't say i've ever found a useful purpose for them.
 

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Reverend Secret Flower
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11,836 Posts
I'm glad this has come about. Walmart wasnt making enough money and I can see how they really want to maximize profits.



HOW MUCH MONEY DO YOU NEED MOTHERFUCKERS??? I just dont get it.
 

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Mr. Negative Pants, ,
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14,796 Posts
Discussion Starter · #8 ·
WalMart filed a class-action against Visa a few years ago over their fees. They declined Visa's settlement offer because THEY WANTED MORE MONEY.

Fuck WalMart. I never, EVER shop there. I wish more people would realize what an evil fucking corporation they are.
 

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Bro of Bros, Bro.
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15,373 Posts
Word is Visa and Mastercard rates are going up to be on par with Amex, so maybe this has something to do with it.

This is kind of off topic, and maybe good for another thread, but I'd be curious as to what people's opinions would be on this matter: Would you pay more for something made in the USA (or local) AND it were better quality? Or do you just go for bottom line cost?
 

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Reverend Secret Flower
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11,836 Posts
When it comes to toilet paper or something, I spend as little as I possibly can. Somethings don't matter if they are quality.

Then I take my savings and spend it on things that do matter in terms of quality.
 

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...
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18,790 Posts
Word is Visa and Mastercard rates are going up to be on par with Amex, so maybe this has something to do with it.

This is kind of off topic, and maybe good for another thread, but I'd be curious as to what people's opinions would be on this matter: Would you pay more for something made in the USA (or local) AND it were better quality? Or do you just go for bottom line cost?
I gladly pay more for quality for most things, but cut costs elsewhere with things I don't care about as much. The vast majority of people just want the lowest price, and don't even care about getting worse customer service as a result.
 

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DOO)))M
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7,435 Posts
When it comes to toilet paper or something, I spend as little as I possibly can. Somethings don't matter if they are quality.
Have you ever used single-ply toilet paper? Or the generic shit that they give every dorm-room/big box retailer in the country that might as well be see-through it's so thin?

Quality DEFINITELY matter for toilet paper, you gotta treat yo ass right son.
 

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Mr. Negative Pants, ,
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14,796 Posts
Discussion Starter · #13 ·
I'm all about paying for quality. And that ESPECIALLY includes wiping my ass. I mean, i'm not wiping my ass with those fancy new polymer $50 bills or anything (something tells me that slick paper would be a sub-optimal wiping experience anyway), but in my old age, i've developed... sensitivities. :naren:

I've often said that you can tell a lot about a company or institution by the quality of toilet paper they provide for their employees or customers.
 

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Bork!
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8,292 Posts
I wipe my ass with down pillows filled with feathers from bald eagles. It's pricey, but man does my butthole feel free.
 

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MG.ORG Irregular
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9,747 Posts
I know somebody that actually likes that sandpaper thin shit. I have no idea how they live their lives that way :lol:
 

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Registered
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3,806 Posts
Here in Australia they disabled the ability to use swipe and sign on credit cards in August except for cards that either have no chip (older cards almost due for replacement), cards that haven't had a pin yet (they made it mandatory for pins last week) and overseas cards that don't use a pin (IE American cards).

As for quality, I spend good money on things that will end up costing less in the long run for quality. In other words, I spent $600 on my pots and pans, $500 on my 2 main kitchen knives, a couple grand on my rage box appliances and a decent amount on a quality mattress. But fuck me if I'll pay more than $10 for a toaster or kettle or more than $20 on a set of plates. A good appliance will last years and less likely to break down. So $1200 on a quality washing machine that lasts 15-20 years works out less than $300 for a machine you'll have to toss in 2-3 years (been there, did that, learnt my lesson).
 
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