Some merchants are even disabling or modifying the NFC readers in their stores in order to shut out Apple Pay. The reason behind the move is called CurrentC - a payment system backed by retail heavyweights, which aims to cut off debit or credit card processing fees by taking money directly from a user’s bank account.
CurrentC is set to launch next year alongside a dedicated app for Android and iOS. In addition to making payments, the app will also serve as a platform for retailers to offer promotions to consumers.
The list of CurrentC backers is rather extensive. It includes Walmart (the largest retailer in the world), Sears, Kmart, Bed, Bad & Beyond, and just about every major US gas station chain among others.
Time will tell if CurrentC itself will end up being a success. For the time being however, Apple seems to have its work in the payment processing field cut out.
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