Recently Apple launched their mobile payments platform, Apple Pay. Like Google Wallet and Softcard, it uses NFC at retailers with the units to allow users to purchase items from a variety of retailers. Unfortunately, some of those retailers are now blocking NFC payments entirely.
Some chains including 7-11, Rite Aid, Walmart, Best Buy, and many others are developing a competing system called CurrentC. It uses an app with a QR code to make a purchase.
It gets around credit card fees by using your bank account, which is why the retailers are most likely adopting it. Which also raises the question of how, since no banks are onboard with the program. CurrentC also has a number of ways it could jeopardize your privacy, as written here.
While retailers may be happy that they could possibly get around credit card fees, it’s unlikely that a customer would want to take the effort to unlock their phone, open an app, scan a code, and show it to a cashier. So hopefully, this payment platform goes the way of the dodo.