Rite Aid and CVS Pharmacies Block Apple Pay

Rite Aid and CVS Pharmacies Block Apple Pay

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Rite Aid and CVS pharmacies are blocking Apple Pay. The companies are two of the at least fifty eight companies that have signed up to support the rival CurrenctC mobile payments solution, reports TechCrunch.

The goal of CurrentC is to let retailers bypass the 2-3% fees charged by credit card companies. Spearheaded by Walmart, a company called MCX (Merchant Customer Exchange) has developed a solution that links mobile payments directly to customers bank accounts. Unfortunately, rather than NFC, CurrentC uses QR codes to initiate transactions.

When it’s time for a user to check out, they request to pay with CurrentC. The consumer then unlocks their phone, opens the CurrentC app, opens the code scanner, and scans the QR code shown on the cashier’s screen. In some case, the reverse may happen where the consumer’s CurrentC app displays a payment code and the cashier scans it. If a QR code can’t be generated, a manually entered numeric code may be offered.

Rather than sending the customer’s financial data over the air, transactions trigger the transmission of a token placeholder. This is then securely converted by the financial institution to process the ACH payment and charge the user. CurrentC also has a method in place for paying at gas station pumps. It shows the consumer a code on their phone that can then be entered on the pump keypad to initiate a CurrentC payment.

MCX asked retailers to pay a big $250,000-$500,000 upfront fee to get onboard with the solution. In addition, a three mobile payment app exclusivity deal was required. Retailers who signed up may have had a one-year grace period to bail out. This would explain why CVS, Rite Aid, and others may need to block Apple Pay.

A document allegedly leaked from Rite Aid reads:

Please note that we do not accept Apple Pay at this time. However we are currently working with a group of large retailers to develop a mobile wallet that allows for mobile payments attached to credit cards and bank accounts directly from a smart phone. We expect to have this feature available in the first half of 2015.

If customers attempt to pay for a transaction with Apple Pay, a message will prompt both customer and cashier for a different form of payment. Please instruct cashiers to apologize to the customer and explain that we do not currently accept Apple Pay, but will have our own mobile wallet next year.

While CurrentC may be clumsier than Apple Pay. Perhaps the new competition from Apple Pay will convince retailers to share some of their transaction fee savings with customers.

Notably, the CurrentC app is already on the App Store; however, an invite code is needed to use it. Hit the link below for more details...

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Rite Aid and CVS Pharmacies Block Apple PayRite Aid and CVS Pharmacies Block Apple PayRite Aid and CVS Pharmacies Block Apple Pay

Rite Aid and CVS Pharmacies Block Apple PayRite Aid and CVS Pharmacies Block Apple Pay

Downer - October 28, 2014 at 5:21am
I don't use any online software or apps that tap directly into my bank account and this goes for PayPal as well. Sorry, I prefer the buffer against mischarges that I get by using a credit card.
JohnB - October 27, 2014 at 1:08pm
I aint no iOS, Android, Windows, etc fan but these Apple fan ppl are f** crazy.. Just cuz Apple release something doesn't mean it's the best on the market. Everything will be hackable. If u make it, they can break it. And y the f* u have to pay online when CVS, RiteAid, Walgreen is the corner. Get the f* out and don't just stick your head on the phone 24/7. U aint the one who's getting the green paper or Apple is paying your bill and y the f* u have to been so loyal to one product. Well, unless u bought their stock then it's a different story. Also, Do you even KNOW that behind Apple close door, they use WINDOWS.
TechnoGeek - October 27, 2014 at 2:36am
These Effing Business simply wants the 1.5 percent they can charge the consumer. With Apple Pay, it's a straight transaction and no BS. Circle K also has done this and I for one will limit my visit due to this inconvenience.
Producer James - October 27, 2014 at 2:15am
Companies are free to do what they like when it comes to payment systems and methods. In the end, if CVS and Rite Aid take a big enough hit to their bottom line they will find away to make Apple Pay work with their business plan. This is what the free market is all about. As a consumer, you can choose who you want to give your money to for goods and services. If Apple Pay works for you then spend your money at those establishments that use it. In the end, the almighty dollar will determine who will succeed and what businesses will use to process those payments. As a person who uses Apple Pay, I will shop at those retailer who choice to use it. If enough people do the same thing CVS & Rite Aid will start using it as well.
Construtc full version - November 11, 2014 at 5:14am
Constrac full vision
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