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Rite Aid and CVS Block Apple Pay and Google Wallet
An anonymous reader writes CVS and Rite Aid have reportedly shut off the NFC-based contactless payment option at point of sale terminals in thousands of stores. The move will make it impossible to pay for products using Apple Pay or Google Wallet. Rite Aid posted at their stores: "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."
Apple Pay is more secure than a card, since magstripe cards are woefully insecure (read any of the recent POS hacks). It won't release a payment ID until after it reads your fingerprint, and it sends a token with cryptogram instead of the PAN in the clear.
It is not smaller, but it may be easier to use as people switch from swipe to chip and sign in the US.
Think for two seconds. It's called Fraud.
Target data breach. Home Depot data breach. TJ Maxx data breach. And the list goes on forever. I have to replace my credit cards every 12-18 months because of fraud.
The value of Apple Pay, and other tokenization technologies, is that they prevent merchants from ever receiving a credit card number and severely limit the ability for malicious employees or hackers from obtaining raw CC data.
since magstripe cards are woefully insecure
In Europe we moved to EMV some 6-9 years ago. It is not without its problems, but cloning cards & other fraud is much harder. A resulting problem is that the banks try to claim that it is 100% secure and so claim that any fraud must be with the knowledge of the card holder- or due to their carelessness.
Apple never stores your credit card. You enter your credit card into the phone, it is sent to the credit card issuer and the credit card issuer sends one time use tokens directly to your phone. Those one time use tokens can only be used by authenticating with your fingerprint.
What magstripe? I live in Europe, where we dropped that nonsense in favour of chip+PIN years ago.
Il n'y a pas de Planet B.
Gruber at DaringFireball nails it:
Apple's great strategic advantages over Google, is that they put their customers (i.e. the people who buy Apple's goods and services) needs over their partners needs to be able to data mine those users.
"Free software as in beer, copy protection as in racket" - Telsa Gwynne
First, CurrentC involves scanning TWO QR Codes. Wow. It's almost like we should use a radio to exchange the data. Durr. Second, Target, KMart, and Walmart are involved with this... KMart and Target are idiots; Walmart has an empire, what are they colluding with them? Apple customers are elitist that will go out of their way to use their fancy phones to do anything (ex: boarding passes). Whichever one of these retailers wakes up first and embraces secure technology wins a whole lot of new business.
UK terminology.
The real "Libtards" are the Libertarians!
you are a retard if you trust anyone with your money these days. FTFY
Just earlier today was this http://yro.slashdot.org/story/...
have you seen my sig? there are many others like it but none that are the same
In Europe we moved to EMV some 6-9 years ago. It is not without its problems, but cloning cards & other fraud is much harder.
MasterCard, Visa, Discover and American Express set a USA deadline of October 2015.
After that deadline passes, any merchant who hasn't switched over to a chip & pin/signature setup will be liable for credit card fraud that happens in their stores.
Naturally, no one actually expects 100% compliance by the deadline, so who knows how it will actually shake out.
Keywords: Liability Shift
[Fuck Beta]
o0t!
Except for the fact that when you dispute a transaction on a credit card, the worst thing that happens to you is that your card may be frozen or the line of credit may be reduced by the disputed amount.
When you dispute a check or a debit transaction, your money is gone until the dispute is resolved and the bank may freeze all of your accounts during the investigative process, meaning you may essentially have no access to the money in your checking or savings account for a month or more.
https://www.riteaid.com/custom...
http://www.cvs.com/help/email-...
Here's the message I sent. If you're lazy, feel free to use it:
Disabling Apple Pay and Google Wallet, which were previously accepted is not OK. If you want to come up with your own competing system and give people rewards to use it, that's fine, but don't break existing functionality. Google Wallet just works. Apple and Google's solutions don't cost you any more money than a credit card transaction. Your payment app isn't even available yet and relies on QR codes, which means that when it does launch it will likely be very clunky by comparison.
If you can't come up with a sane response to this, I guess I'll be switching to Walgreens.
Facts have a liberal bias.
Need, perhaps not. Nevertheless, it is a smart decision to use one. Need to dispute a charge -- with a credit card, you have protections under Federal law. Using a debit card, you have fewer protections. Want to rent a car? Good luck doing that without a credit card. I could go on, but the list is too long.
Bottom line, unless you have very poor impulse control, not having a credit card is a poor financial decision.
The real "Libtards" are the Libertarians!
In several ways
1)Debit cards don't build credit history. This makes it hard to get a car or house loan at good rates.
2)Credit cards have 0% interest if you pay at the end of the month every month.
3)Debit cards do not earn you interest. If you have an interest checking account (rare, and usually such a low rate that its a joke, sub 1% in most cases), you earn that money regardless of if you have or use a debit card.
4)In the US, many purchases such as hotel, rental car, and gas put a hold on your account for more money than the actual charge. This hold goes away once the car is returned/hotel is checked out/a few days (for gas), but in the meantime that's additional money you can't access.
5)Emergencies/hard times. Sometimes shit happens. You may lose your job and run low on cash. You may have a series of car and house repairs. Its always a good idea to have an additional emergency fun you can call on for short term cash.
6)Your bank may put a hold on your debit card for suspicious activities. In that case, your card is useless. Having a backup is always a good idea. There's been several times this has saved my ass when traveling.
I still have more fans than freaks. WTF is wrong with you people?
Don't be foolish. The laws that govern this have no requirement that a "credit card" be involved. The law is called the Federal Credit Billing Act [FCBA] and it covers any use of interstate consumer credit. The only reason debit cards aren't covered is because credit is never extended, the transaction is a banking transaction that falls under separate banking laws which treat a debit transaction as an electronic check. To avoid the FCBA requirements Apple would be required to essentially act as a bank, which they aren't, and process the transaction as debit cards. This would mean preloading money into the account before you could spend it.
If Apple were stupid enough to attempt what you suggest they would get smacked down so hard they wouldn't stop spinning for a month. The FCBA is incredibly strict and provides guaranteed consumer rights and very harsh penalties for violations including the immediate suspension of business if caught violating it. I sincerely doubt Apple's lawyers are that dumb so this "rumor" your heard is the made up variety that is quite common with Apple.
http://www.consumer.ftc.gov/ar...
This should bloody well be common knowledge. The FCBA is the only reason credit cards ever became successful and was a major act of congress that superseded many state laws. It covers pretty much any act of credit except for a few very special exceptions.