The internet is currently abuzz about CurrentC. So what do you need to know about it, besides the fact that it’s clearly a play on words (“currency”)? Here are simply 10 facts.<\/p>\n
\u00e2\u20ac\u00a2 CurrentC is\u00c2\u00a0a proprietary QR code-based system developed by the Merchant Customer Exchange consortium\u00e2\u20ac\u201cwhich includes these retailers<\/a>.\u00c2\u00a0<\/span><\/p>\n \u00e2\u20ac\u00a2 Some retailers include Dunkin’ Donuts, Wal-Mart, Best Buy, CVS, and 7-11.<\/p>\n \u00e2\u20ac\u00a2\u00c2\u00a0In this system, the QR code is referred to as a Paycode and it plays a pivotal role in how payments are scanned and processed.<\/p>\n \u00e2\u20ac\u00a2 As a result, CurrentC does\u00c2\u00a0not<\/em>\u00c2\u00a0feature NFC technolgy.<\/p>\n \u00e2\u20ac\u00a2 Actually, not having NFC technology\u00e2\u20ac\u201cin addition to requiring information such as a user’s social security number and driver’s license number\u00e2\u20ac\u201cdoes not bode well<\/a>\u00c2\u00a0for the payments system.<\/p>\n \u00e2\u20ac\u00a2 From Business Insider<\/i> also comes a description of how CurrentC. vs. Apple Pay vs. a traditional swipe:<\/p>\n Here’s how it works: When it’s time to pay for something, you get a QR code served to you on a payment terminal. You then open your phone, open the CurrentC app, then scan the QR code to pay. It can also work in reverse, where you open your phone, and you have a QR code, and the retailer scans the code.<\/p>\n Compare that with Apple Pay, which works like this: When it’s time to pay, take out your phone, hold it to the payment terminal, then use the phone’s fingerprint scanner to pay, and you’re done.<\/p>\n Or, compare both with credit cards: When it’s time to pay, take out your credit card, swipe it, sign, and be on your way.<\/p>\n \u00e2\u20ac\u00a2 Even though Apple Pay can seem a little convoluted when it comes to user experience\u00e2\u20ac\u201cit is integrated into an existing customer payment flow\u00e2\u20ac\u201cwhereas CurrentC complicates it.<\/p>\n \u00e2\u20ac\u00a2 Many iPhone and Android fans from Reddit have converged <\/a>on Twitter under the #PayItSafe hashtag to spread awareness about the dangers of mobile payments technology that lacks NFC.<\/p>\n \u00e2\u20ac\u00a2 Which is all to say that if you’re a business that wants to minimize the hassles and headaches of being an early adopter with payments processing technology that you may not have the resources to develop and scale throughout your business, go with someone like Abtek.<\/p>\n \u00e2\u20ac\u00a2 Meanwhile, the Electronic Transactions Association, has blasted <\/a>the CurrentC technology as being anti-consumer and anti-competitive.<\/p>\n Want to learn more? Stay up-to-date with breaking news by following us on Facebook<\/a> and Twitter<\/a>.\u00c2\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The internet is currently abuzz about CurrentC. So what do you need to know about it, besides the fact that it’s clearly a play on words (“currency”)? Here are simply 10 facts. \u00e2\u20ac\u00a2 CurrentC is\u00c2\u00a0a proprietary QR code-based system developed by the Merchant Customer Exchange consortium\u00e2\u20ac\u201cwhich includes these retailers.\u00c2\u00a0 \u00e2\u20ac\u00a2 Some retailers include Dunkin’ Donuts, […]<\/p>\n","protected":false},"author":12,"featured_media":192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[22,24,23],"class_list":["post-189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-currentc","tag-eta","tag-mcx"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t