Retailers blocking Apple Pay and Google Wallet as they build their own service
A slew of retailers are taking a stand against mobile payment services like Apple Pay and Google Wallet. They are blocking the mobile payment services from Apple and Google (and even SoftCard) because one of their own will be launching next year. Companies including Old Navy, Lowes, Dunkin’ Donuts, Sears, Best Buy, Stop & Shop, Walmart, Wendy’s, and a bunch of gas stations are behind the CurrentC mobile payment service scheduled for 2015.
The benefit of using CurrentC will be the lack of processing fees as the credit card companies are not at all involved. CurrentC is designed to work by taking funds from the user’s checking account. With the credit card companies taken out of the equation, retailers behind CurrentC will offer exclusive promotions as an incentive.
Via: The Verge
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