CurrentC has user emails stolen and thousands of new one-star reviews

CurrentC has user emails stolen and thousands of new one-star reviews
The resolve of MCX is being tested right now. The consortium of retailers is in the crosshairs because many of its members have blocked Apple Pay and Google Wallet in favor of its own mobile payment option, CurrentC (despite the fact that there are no banks backing CurrentC, and the app is still in invite-only beta.) The backlash has been swift, but we'll have to wait and see if it will be effective.

First, regular users have taken to the app stores to voice their displeasure over the decision of many MCX retailers to block the current mobile payment systems from Apple and Google. Since the news came out, thousands of users have gone to Google Play and iTunes to log in one-star reviews for the app. As of this writing, there were over 5,000 one-star reviews combined between the two app stores. There were 28 total reviews on iTunes and 48 total reviews on Google Play that were two-stars or higher. Of course, even some of the five-star reviews were blatantly sarcastic. 

Even worse, CurrentC has been contacting users with the message that "unauthorized third parties obtained the email addresses of some of you". It is still unclear how the data was compromised, and word has it that no other information was taken aside from email addresses. But, it still doesn't look so good for the app. 

source: Business Insider via The Verge 1 & 2

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17 Comments

1. vincelongman

Posts: 5628; Member since: Feb 10, 2013

Good this is what they get for being so anti-competitive

2. jegley23

Posts: 8; Member since: Oct 08, 2014

paid hackers...lol

9. kane74

Posts: 44; Member since: Jan 24, 2014

Obviously

3. 0xFFFF

Posts: 3806; Member since: Apr 16, 2014

As history has shown, there is nothing quite like an angry mob of ignorant people. When the ignorant mob is mostly composed of high tech people from the 1% richest in the world, it is especially ugly. Little do the Apple Pay ingrates know, but CurrentC gets rid of credit card processing fees, so merchants can process payments for dramatically less than they can today. Reducing transaction fees will help many independent small businesses such as food co-ops survive. Often times, these businesses are paying thousands of dollars a month in fees and this can be the difference between being profitable and staying afloat and running at a loss and having to close. It's sad that so many high tech people are ridiculously ignorant and juvenile.

5. Salazzi

Posts: 537; Member since: Feb 17, 2014

Yeah because we really should give a sh*t about Wal-Mart and the likes, having no processing fees. You do realize it's these big guys who are the ones who blocked Apple Pay and Google Wallet, right? Let them eat fees.

6. 0xFFFF

Posts: 3806; Member since: Apr 16, 2014

Unfortunately, Wal-mart does not "eat fees". All companies big and small pass transaction fees onto their customers in the form of higher prices. Credit card transaction fees are a tax on consumers that the world can do without.

10. ojdidit84

Posts: 462; Member since: Jul 16, 2011

I usually agree with your opinions and rationale but the fact that this reduction in fees for the merchant results in direct access to checking accounts with no fraud protection for the consumer and to hold the merchant liable if information is compromised on an app that's less secure than the Apple and Google competitors that it's partners are blocking is enough to throw a red flag on this mobile payment system for anyone with a shred of common sense. Also, the businesses that are using CurrentC are major corporations that aren't on the verge of operating at a gain or a loss or on the verge of closing their doors because of operating costs.

16. 0xFFFF

Posts: 3806; Member since: Apr 16, 2014

IMO, the overall goal of getting rid of the "credit card tax" is a good one. I would much rather have 3% deducted from my bill than be forced to pay "transaction insurance" and make a few companies and their shareholders extremely wealthy. Unfortunately, it has to be big companies that get the ball rolling, get the systems in place, for this to work. The little guys don't have any clout and cannot fund all the development a new system will demand. Keep in mind that the vast majority of consumer purchases today are made with debit cards. And debit cards are already connect to bank accounts. Once a new system is in place that does the same thing but removes the transaction fees associated with debit purchases, there will also be consumer protection, fraud prevention measures, etc. Credit cards will still be available, but will be more secure in 2015 with pin+chip. Of course, do you think the credit card tax will go down? Probably not. Less fraud will be good, but the fees have to go down to really help small businesses. I am no fan of Walmart, but I'd rather consumers and retailers work together and figure out how to do payments directly so we can get rid of the terrible transaction fees that are nothing more than a parasite on the economy.

11. spasticpat

Posts: 108; Member since: Dec 18, 2012

It's not just "Apple Pay ingrates" but Google Wallet users that are up in arms as well.

14. Stuntman

Posts: 843; Member since: Aug 01, 2011

I don't think that people who like the convenience of using Apple Pay or Google Wallet are going to want to use a less convenient way of paying for goods and services. I also don't think that many consumers are going to be that sympathetic to businesses if their decision results in less convenience for their customers. Even if businesses do save money on not having to pay as many fees with CurrentC, I don't think customers are going to have much confidence that any part of the saving is going to be passed onto customers. Most likely, people would think that when a company is able to save money, they will pocket it themselves. I really think it is going to be a very hard sell to convince customers that abandoning Apple Pay or Google Wallet is going to benefit them.

17. 0xFFFF

Posts: 3806; Member since: Apr 16, 2014

It's hard to say how things will turn out over time. There is a massive unhappiness across all sizes of businesses with the "credit/debit card tax". There continue to be stores that offer a "cash discount". I would hope that the more savvy retailers will offer some sort of "CurrentC discount" to get the new system off the ground and save people some money at the same time. Maybe the Apple Pay / Google Wallet ingrates of the richest 1% don't care about the 3% or more than many businesses pay to process credit/debit cards, but there are millions of people who would benefit from a reduction in this 3%. Most likely there will be support for the 1% to buy with "convenience", but if this occurs at the cost of screwing millions of ordinary people, I, for one, think this will be a tragic thing.

4. Lt.Green

Posts: 397; Member since: Mar 13, 2014

Never mess with the big 2.

7. Magnetosphere

Posts: 3; Member since: Oct 30, 2014

CurrentC be like "If you thought this system was utter garbage before...we've done absolutely nothing to sway that notion."

12. eN16HTMAR3

Posts: 253; Member since: Oct 08, 2013

You made my day sir.

8. jegley23

Posts: 8; Member since: Oct 08, 2014

buy from them or buy from others, thats only thing people can do if this big retailer dont want to use apple pay.

13. eN16HTMAR3

Posts: 253; Member since: Oct 08, 2013

Mobile payments are stupid and just a bad idea all the way around. Unless you constantly like being afraid of having your info stolen.

15. oborawatabinost

Posts: 45; Member since: May 18, 2014

I wonder how bad a deal Apple and Goggle were cutting these companies to the point where they created their own service.

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