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This Week In Business: Notoriously Known Apple

Updated on October 28, 2014

What Ignited It All: Apple Pay

Apple has launched a new exciting software named "Apple Pay"
Apple has launched a new exciting software named "Apple Pay" | Source

The Newfound War

Aside from the seemingly increasing disappointment for their improvement of technology, Apple has launched a new software that has made what seems to be a comeback in the technology industry. Although their new IPhone and Apple Watch may just seem like the basic IPhone model on new size scales, Apples' new "Apple Pay" may stand a fighting chance against the CurrentC system. Apple has gotten itself into a war that has yet to lean to either side.

This newfound war that Apple has gotten mixed up in appears to be with Merchant Customer Exchange (MCX). Both of these leading programs have promising advances to bring into the market; however, their consumers (merchants) seem to be favoring the CurrentC system. The major blow that comes with Apple Pay is the fact the the customers payments are kept private. That means merchants will not be ale to track their card information and gain an insight of what their customer base is interested in.

The Promising CurrentC

The number one rival of Apple Pay
The number one rival of Apple Pay | Source

How The Two New Systems Operate

Both Apples' and MCXs' paying system are impressing the general public. The main message of the two fierce companies is the idea of the smartphone becoming the new wallet. While the two systems are still in the process and improvement, here is the way they are looking to turn out.

CurrentC- CurrentC is going to come out as an app that will have to be opened to make a purchase. Although CurrentC will share information to merchants, it will be more secure for the customer by offering passcode, QR code, and cloud protection. For each purchase, the customer will enter their four digit passcode for their personal account, scan the unique QR code for the purchase and be off on their way.

Apple Pay- The more convenient process requires less effort from the customer. The four step process includes; the customer touching his/her finger on the Touch ID. Then waving the phone near the NFC device and lastly, approving the payment.

While both of these systems have their advantages and disadvantages, it can easily be seen that they will require improvements.

Even More Drama

The clash between Apple and MCX is not the only drama in this particular business world. Although Apple is in the lead with 220,000 locations accepting their system and 110,000 locations accepting the CurrentC systems, they seem to be also going to battle with Rite Aid and CVS. The two major retail pharmacies have confirmed their blockage of Apple Pay. The two retailers used the system for the first two days but along with confirming their blockage, they also released news of their own similar system they are working on.

The Mobile Payments Battle

You choose! CurrentC or Apple Pay?

Would you personally choose the CurrentC or Apple Pay system?

See results

Have any comments on this issue? Have any suggestions for the next business of the week? Comment below!

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    • esmonaco profile image

      Eugene Samuel Monaco 3 years ago from Lakewood New York

      Very interesting and informational, nice work on your first Hub. I would choose the CurrentC for the better security. Thanks :)

    • Kalafina profile image

      Kalafina 3 years ago

      Your writing mechanics were very good. I am technologically hopeless and really don't know much about the subject but I felt there was a great deal of clarity. You might want to add a few photos regarding the look of things and maybe put the ones you do have smaller so they don't get so distracting (do this by hitting the arrow on the capsule which points to the right (I think). Also, it would be great if you possibly could put an Amazon product link to them (if available). Someone like me definitely prefers if the product is at their fingertips if possible :) Good first hub!