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Retail's response to Apple Pay and Google Wallet already hacked
If the retailers backing the CurrentC mobile payment system hope to topple NFC-based technology like Apple Pay and Google Wallet, they may need to improve their safeguards for your data. CurrentC is now warning people in its beta program that "unauthorized third parties" (read: hackers) swiped some of their email addresses. While that appears to be the only information at risk, the loss isn't an auspicious sign for a service that's still months away from launch -- especially one that touts privacy and security as "top priorities." It's not clear who's responsible, either, although the platform's architect, the Merchant Customer Exchange, says that it's still investigating the breach. Whatever happened, it's safe to say that the incident underscores one of the main concerns of middleman-based payment systems like CurrentC. Handing sensitive info to in-between providers, no matter how careful they are, leaves you that much more vulnerable to theft.
Drug stores drop Apple Pay and Google Wallet to push their own payment tech
If you're bent on using Apple Pay or Google Wallet for your shopping, you may have to be finicky about your choice of drug stores. Both CVS and Rite Aid have shut off their support for NFC-based payments just days after Apple Pay went live. Try to tap your phone and you'll get an error, or nothing at all. The companies haven't publicly discussed why they're cutting off the handy feature, but this is ultimately an attempt to stifle competition. Both pharmacies are part of the Merchant Customer Exchange, a retailer group whose its own QR code-based mobile wallet system (CurrentC) reaches these stores in 2015. As a memo obtained by SlashGear suggests, they'd rather deny all NFC payments than risk building support for rivals, particularly when they don't eliminate credit card fees like CurrentC does. Suffice it to say that this will be very inconvenient if you're a frequent customer, and you'll currently have to visit the likes of Duane Reade and Walgreens if you want to avoid paying with old-fashioned cash or plastic. [Image credit: Justin Sullivan/Getty Images]
Best Buy, Walmart, Target, more join forces for MCX mobile payment, deals provider
Mobile payments make strange bedfellows, so it's perhaps not all that surprising that a group of high profile retailers have teamed up to bring the world the Merchant Customer Exchange (MCX). The list includes such biggies as Best Buy, Walmart, Target, Sears, Lowe's and Shell, among others. The venture is set to offer up a mobile-commerce app that will provide payments and deals on "virtually any smartphone." Details are still pretty scarce, though the MCX's official site promises more info on the offering soon, including further details on deals and additional company names. In the meantime, there's a press release after the break.
