It looks like not everyone is not that hyped up about Apple’s new mobile payments system. A list of retailers including Walmart, Kmart, 7-Eleven, and Best Buy, are in outright competition with Apple Pay and might just be looking to step out of the opportunity with Apple Pay. It seems some merchants are working on a joint venture to build their own mobile payment app known as CurrentC. With no intention to jump on the Apple Pay wagon, the competition CurrentC is most probably launching next year.
Wal-Mart and Best Buy confirmed with the The Wall Street Journal that consumers will not be able to use Apple Pay in their stores. It has been leaked that Rite Aid, the drug store chain is modifying or disabling its NFC readers, preventing access to Apple Pay in its stores. This has since been confirmed via iMore. CVS has followed in this trend and decided to opt for CurrentC instead but has yet to officially comment on the issue.
Banks and credit card companies continue to support Apple Pay and the system has been seen as a way to increase the number of purchases people make with their credit cards. However, Apple is struggling to get the support of retailers. Only 34 merchants have signed up onto the platform. One being Apple itself.
On the other hand, not a single bank is supporting CurrentC. The system is designed to get rid of the middleman, the bank and not use credit cards. The app is designed to withdraw directly from your checking account when you pay at the cash register with a QR code displayed on your Android or iOS device. By not using your plastic cards, users get exclusive coupons and promotions.
Gap, Old Navy, 7-Eleven, Kohls, Lowes, Dunkin’ Donuts, Sam’s Club, Sears, Kmart, Bed, Bath & Beyond, Banana Republic, Stop & Shop, and Wendy’s — as well nearly all the major US gas station chains have all signed up to be with CurrentC. This is definitely an interesting turn of events for Apple. What is to happen? Will the apps merge? Will Apple shelve Apple Pay? Once we get an update, we will be sure to let you know. But till then, which would you prefer? CurrentC or Apple Pay – let us know in the comment section below!
Source: The Verge