Apple Pay has crippled Google Wallet
Apple thought it nailed Apple Pay, but just weeks after the introduction of Apple Pay the let down was a big one by the biggest game changer in mobile industry. It did nothing to shake up the mobile payments market. Black Friday is this week and Apple Pay could have change things up in the mainstream retail market for the first time but that dream did not come true this year. Instead, it has crippled its rival Google Wallet which was doing fine from over 3+ years of operation.
What is MCX and CurrentC?
Merchant Consumer Exchange (MCX) is a solid batch of merchants who are eyeing the mobile payments sector with their own greedy ways and technology on hand. MCX is an initiative group formed by giants in the commerce industry. They have a plan to introduce secure cloud based commerce mobile payment system where it supports QR codes, connect to existing retailers app, and connect to large financial institutions. This new technology now has a name, CurrentC. It sure seems they have a hidden agenda at work and the exclusive deals with retailers which put out Apple Pay and Google Wallet, all in a matter of weeks.
They have handicapped Near Field Communication (NFC) before it took off, but it barely started to walk. Part of the blame has to do with MCX’s greed, Apple’s greed and the battle of dominance of a notable player and market.
Google Wallet on the other hand was quietly making inroads for a smooth payment structure of its own and they were doing just fine with the introduction of Near Field Communication(NFC) technology in Android phones over 3 years ago. MCX never really got into with Google Wallet, due to the fact that it was not popular or post a threat to its own tech. People just don’t know how NFC works, but those who did loved it. Apple at one time did not embrace NFC, until there was no innovative alternative “amazing way” from Apple, they jumped on the NFC bandwagon and that has pauperize the state of NFC, crippled Google Wallet all because of mainstream reach and power at hand.
But there is good news on the way. MCX is now looking to end the exclusivity with retailers due to unfavorable introduction in the market and negative app reviews. Therefore allowing Apple Pay and Google Wallet to work with all major retailers in the country.