Tuesday, November 4, 2014

Possible Class Action Suit Towards CVS and Rite Aid

After CVS Pharmacy and Rite Aid stopped accepting Apple Pay and Google Wallet at their retail stores to avoid credit card fees, Schubert Jonckheer & Kolbe are launching an investigation against them. Basically, to avoid NFC fees, the merchants developed their own mobile wallet solution, called CurrentC. CurrentC uses a generated barcode as the method of payment. That's all fine and dandy, except for one thing: people don't want to have to get another app and it's less secure! Okay, I guess that's two things. Remember when Target and The Home Depot had credit card information stolen? Personal information has already be stolen with CurrentC. Schubert Jonckheer & Kolbe are "investigating whether CVS and Rite Aid violated the antitrust laws by banding together with other MCX members in a decision to boycott other payments systems, including Apple Pay."

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