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More store chains sign up for CurrentC than for ApplePay
- jarcane 12y agoI have some sympathies for the retailers in this. My understanding based on previous reading is that the CurrentC system works by debit, rather than credit, meaning they avoid credit card fees. Most bigger shops like Rite-Aid already use debit (it's why you can get cash-back at grocery stores). On the other hand, their other stated reason for CurrentC is logging yet more piles of customer purchasing data, which can bugger off for all I care.
- bradleyland 12y agoThe other major difference between CurrentC and credit card payment systems (including Apple Pay) is the disposition of liability in the event of fraudulent purchases. In the US, credit card holders have extremely limited liability for fraud, and are rarely held accountable at all. CurrentC makes the end-user responsible for fraud, which is terrifying considering the participating retailers' track record for security.
- jarcane 12y agoThat is an element I hadn't considered, and yeah, that's pretty scary indeed, especially in light of the recent email hacking at CurrentC. I was lucky when I lived in the states to have a credit union that largely treated debit as credit re: fraud, but I've known many who were not so fortunate.