MCX Goes On the Defensive, Offers New Details
> payment service is voluntary. When merchants choose
> to work with MCX, they choose to do so exclusively.
So CVS and RiteAid chose to use MCX, purchased their terminals and licensed their processing system-- which included NFC-- and then when MCX offers an alternate AS YET UNDEPLOYED solution, MCX has the right to disable functionality their customers paid for.
> Importantly, if a merchant decides to stop working with
> MCX, there are no fines.
Except if you happen to own thousands of stores with tens of thousands of terminals that you already purchased. Then you have to pay to replace the whole system.
I call bullshit.
The death of this system is going to come from the lack of having either NFC or a scanner on the terminal to scan the QR code. I think when you have to hand over your phone to the high school kid checking groceries at Hy-Vee, etc. that will cause most people to choose another payment method. They, like a few other of their merchants, don't even have scanner guns. Even if the check has a gun to scan the QR code with, it will be a less efficient method since the customer is unabl...
It still does not make sense for CVS and RiteAid to invest in tens of thousands of NFC capable terminals that will no longer be used and will likely be replaced (to avoid pissing off Apple Pay and Google Wallet users).
What will kill CurrentC is:
- Store card and checking only (no credit / debit card support)
- Dual barcode scanning
- Huge infrastructure change for fixed base scanners at grocery stores and large volume retailers.
- All the POd Google Wallet and Apple Pay users who will boycott the system out of spite.
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