{"id":29952,"date":"2014-10-28T00:01:00","date_gmt":"2014-10-28T04:01:00","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=29952"},"modified":"2014-10-28T21:11:06","modified_gmt":"2014-10-29T01:11:06","slug":"theres-going-to-be-a-war","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2014\/10\/theres-going-to-be-a-war\/","title":{"rendered":"There's Going To Be A War"},"content":{"rendered":"

And it is taking place right now in your neighborhood. No, I'm not talking about ISIS invading your neighborhood, what I'm talking about is credit card payments to merchants.<\/p>\n

Earlier this month, Apple announced its mobile payment system called ApplePay. The Apple iPhone 6 uses a technology called Near Field\u00a0Communication or NFC, which is built into their new iPhones to pay for a product in a store that supports this technology. This is similar to Google Wallet which uses the same technology.<\/p>\n

On one side of battlefield you have Apple Inc. (NASDAQ:AAPL)<\/a>, on the other side you have a consortium of merchants led by Wal-Mart Stores Inc. (NYSE:WMT)<\/a>, , which includes CVS Health Corporation (NYSE:CVS)<\/a> and Rite Aid Corporation (NYSE:RAD)<\/a>. That consortium whose name is MCX (The Merchants Exchange) want to use their own mobile system that they have been developing since 2012. That system is named CurrentC. What's that going to do for consumers? You only have to look at the MCX website to understand what their goal is.<\/p>\n

From the MCX Web site: \"Merchant Customer Exchange is the only merchant-owned mobile commerce network built to streamline the customer shopping experience across all major retail verticals.\"<\/p>\n

From the press kit: \"It will also offer innovative features and benefits, such as merchant loyalty programs and instant coupon savings, all stored on the phone and available right at the point-of-sale.\"<\/p>\n

Sounds very similar to Google wallet and ApplePay, does it not? Mobile payment solutions such as Google wallet have not really caught on with Millennials or anyone else for that matter. It was only when Apple came along with their new payment system that the MCX realized they had to attack. The first part of the attack was putting pressure on CVS Health Corporation (NYSE:CVS) and Rite Aid Corporation (NYSE:RAD) to turn off their NFC receivers on their cash registers so ApplePay would not work. What is strange is that Target, who is also a member of MCX, will accept ApplePay as it offers a more secure and superior method of payment over a regular credit card. Looking at some of the recent challenges that Target has had with credit card theft, it is understandable.<\/p>\n

So today's poll question is:<\/p>\n

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Who do you think will win the mobile payment wars?<\/strong><\/p>