Apple Pay/CurrentC — another standards war — this time in mobile payments

In USA, a large drug store chain (Rite Aid) has stopped taking payments through Apple Pay. Reason appears to be their interest in an alternative system, CurrentC, which is also backed by such heavyweights as Wal-Mart, Best Buy, Target, Darden Restaurants & Sears.

CurrentC has two problems:
● it won't be operational until 2015 — so customers will have to wait
● based on the information available, customers will be required to link their account to the CurrentC system, & at the time of making a payment, will have to use their phone to scan a QR code displayed on the merchant's terminal

An attempt to carve out a piece of electronic payments, in this way, is likely to be as attractive to customers as a business accepting only one type of credit card.

http://www.usatoday.com/story/money/business/2014/10/26/cvs-follows-rite-aid-shuts-off-apple-pay/17959213/

http://9to5mac.com/2014/10/25/cvs-begins-disabling-nfc-terminals-in-stores-to-cut-off-apple-pay-support-in-favor-of-currentc/ / drug store chain Rite Aid Inc stopped accepting payments Apple Pay system CVS Health pharmacy stores conflict mobile payment system CurrentC developed retailer-owned mobile technology Merchant Customer Exchange MCX NFC chip generates QR code displayed merchant checkout terminal linked bank accounts system scan QR code terminal transaction completed early September Wal-Mart Stores Best Buy adopt new system partners in MCX major retailers Target Darden Restaurants Sears Holdings mobile payment solution big retailers paying fees drive adoption Apple Pay real-world testing works with existing checkout terminals retailers purchase new equipment communicate with NFC chip iPhone 6 Plus contractual solidarity backers exclusively customer demand NFC-based systems technology /