MCX Launches Long-Awaited Mobile Payment Pilots

Sept. 4, 2014

MCX Launches Long-Awaited Mobile Payment Pilots MCX, the merchant-backed mobile payment solution that was announced about two years ago and has been shrouded in secrecy since, yesterday announced its mobile wallet and app would be available in several pilots over the rest of 2014 and roll out nationally in 2015. The solution, named CurrentC, will be available at a network of merchants that includes national retailers like Walmart, Target, CVS and 7-Eleven.

“CurrentC will offer customers a simpler, faster, secure way to checkout at their favorite merchants,” said MCX CEO Dekkers Davidson. “”The CurrentC Network will provide merchants with unparalleled reach and resources in the mobile payments category,” said Davidson. “It will offer merchants new and exciting channels to engage with customers, strengthen relationships, and enjoy more control of transaction data.”

The wallet app will enable consumers to draw funds from personal checking accounts, merchant gift cards and “select merchant-branded credit and debit accounts,” the company said in a statement.  Additional payment options will be available in the coming months. What may not be available at some stores supporting MCX mobile payments are competitive offerings that use NFC to communicate between device and POS. This spring, published reports indicated two of MCX’s charter members—Best Buy and 7-Eleven—were removing NFC capability from their POS. With Apple increasingly likely to launch NFC mobile payment capability with the new iPhone this month, speculation has been that this is a competitive move by MCX.