Have companies not yet worked out that trying to go against Apple rarely seems to work out? If not, they may be learning quickly — with Apple Pay rival CurrentC reportedly delaying its arrival yet again, while laying off 30 of its staff.
Despite repeatedly denying any sort of enforced Apple Pay ban, MCX, the consortium behind CurrentC, is holding its merchant partners to an exclusivity agreement. The good news is that the agreement is set to expire in less than a year.
Apple Pay’s biggest competitor backed by major retailers has been hacked before it even launched.
Retailers like Walmart, BestBuy, Gap, and CVS are waging a war against Apple Pay with their own mobile wallet solution, CurrentC, but the pending doom of their QR-code solution is looking even more obvious now, as the company just alerted customers that they’ve been hacked.
Customers who signed up to use CurrentC were notified today via email that hackers have “obtained the email addresses of some of you.”
Email addresses were the only information the hackers stole (because CurrentC isn’t even out yet), but we doubt this is going to make shoppers eager to share their social security number and bank account info with MCX’s partners, once the app launches next year.
Two major pharmacy chains have stopped supporting Apple Pay as merchants in the U.S. take sides on which mobile wallet platform to embrace.
Reports from a couple days ago revealed that Rite Aid had started disabling its NFC terminals, thereby forbidding the use of Apple Pay and Google Wallet. Now CVS has reportedly started shutting down its NFC terminals.
Square’s announcement of its partnership with Starbucks and the launch of new mobile payment company by several key retail and service chains were signs that the mobile payment industry and digital wallet concept is big business. Late last week, however, there was more news on the mobile payments front that proves that the race is far from over – one could even say that it’s barely started.
In a move that could make Square’s deal with Starbucks seem small and limited, Reuters reports that PayPal may soon be expanding its brand of mobile payments to include on the biggest fast food chains on the planet – McDonald’s. PayPal is currently testing a payment system in 30 McDonald’s locations in France. The company demoed the technology earlier this year.