Wednesday, October 29, 2014

If A Retailer Use CurrentC They Can’t Use Apple Pay

Retailers who decide to use the CurrentC mobile payment system must do so exclusively, dropping access any NFC payment system like Apple Pay. The Merchant Customer Exchange CEO Dekkers Davidson says retailers "make their own decisions" on selecting CurrentC, and any retailers who choose to back out from the service will not be fined. "When merchants choose to work with MCX, they choose to do so exclusively and we're proud of the long list of merchants who have partnered with us,". Its also reported that retailers cannot accept rival payment systems like Apple Pay and breaking MCX contracts result in steep fines. "Importantly, if a merchant decides to stop working with MCX, there are no fines,". Recently, Rite Aid and CVS cut off access to NFC enabled payment services like Apple Pay and Google wallet. Both companies are part of MCX, and will use the CurrentC payment system. Other outlets joining MCX include Best Buy, Target and Walmart. For those who don't know CurrentC is a mobile app that processes payments at stores using either QR codes or numeric codes. The app will integrate gift cards, coupons and personal checking accounts.

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