In the last few weeks Apple made some big announcements, including the new generation iPads, the latest update of iOS 8 and the first payment feature by the company, the Apple Pay. Just like the Google Wallet, the Apple Pay uses NFC connectivity for payments in different retailers. The feature is supported by loads of companies, such as Whole Foods and Walgreens. However it turned out that the biggest merchants in the States don’t support the Apple Pay, and even more – they are proceeding to disable the NFC payment terminals. Some of the retailers where Apple Pay is not eligible as option for payment are Best Buy, Rite Aid and Walmart. The decisions of the companies are not based on any impressions against Apple, but they are evoked by a new project names CurrentC.
The payment system is not officially released yet, therefore it is unknown how it will work exactly and whether it will be a success. Loads if major retailers are involved in the project for CurrentC. The idea behind the new system is to decrease the credit card and debit card processing fees. The CurrentC will take client’s money straight from the bank account. It works by loading a QR code to the certain smartphone or tablet that allows directly drawing from the account when it is scanned. Among the supporters of the system are Walmart, Bad&Beyond, Bed, Sears, Kmart etc. It is expected to start working in the beginning of 2015. The CurrentC works with iOS and Android apps.
It is not certain how practical the new system will be for mobile users. However everything shows that meantime the retailers are not eager to support the rival systems, including Google Wallet and Apple Pay. Apple has not reacted on the actions of retailers yet. There is a chance that users will not accept the concept of CurrentC for direct drawing from their accounts. This might put Apple back in the game in the fast developing field for mobile payments solutions. We will wait and see.