1. Allows merchants to track all of your purchases (ApplePay and Google Wallet use a random token which uses a different code for every transaction and can't be tracked).
2. Can't use credit or debit cards.
3. Pulls money straight from your savings or checking account and has NO LEGAL PROTECTIONS FOR FRAUDULENT PURCHASES (unlike credit and debit cards).
4. Promises to store all of your sensitive financial information “in the cloud.”
I don't think I would want you in charge of my monies with your perspective.
“ApplePay and Google Wallet use a random token which uses a different code for every transaction and can’t be tracked”
Do you really believe that? I mean, I can think of a hundred ways for those companies to share information about your purchases. I know, I’ve built some of those systems. There is no way on God’s green Earth that they will forego the revenue from such data sharing. No way. Consumer purchase data is the biggest revenue generator.
The exact same tings said of ApplePay today were said about credit card transactions 25 years ago: “They are secure”, “No worries”, “Can’t be tracked”, etc.
Number 1 in the list why retailers are not going along with ApplePay. ApplePay doesn’t allow the retailer to track your purchases. CurrentC does. For example the other day I made a purchase with a credit card to a company I was never at before and did not give them any of my information. By the time I returned home, the company had sent me an email telling me of how many things they had on sale that I could purchase. They got this from my CC information as I never gave it to them. I will prefer ApplePay any day over CurrentC.
Sam’s Club is Walmart’s btw.