News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Report: CurrentC to Roll Out in One U.S. City This Summer – April 9, 2015

Report: CurrentC to Roll Out in One U.S. City This Summer

April 9, 2015

Report: CurrentC to Roll Out in One U.S. City This Summer CurrentC, the contactless mobile payment system from merchant-backed venture Merchant Customer Exchange (MCX), will roll out to the public by the middle of this year, according to reports. CurrentC, a competitor to Apple Pay, Google Wallet and other solutions that use smartphones to tap-and-pay at the point of sale, currently is being tested in pilot programs by small numbers of employees at some of the merchants that are part of MCX.

According to a report in Macworld, CurrentC will roll out officially in one U.S. market in the next few months. Unlike the NFC-based systems favored by Apple Pay, Google Wallet and the new Samsung Pay (which also includes a method to tap at traditional magstripe terminals), CurrentC incorporates technology from mobile payment provider Paydiant that requires users to scan barcodes at the counter when making purchases. Paydiant was recently acquired by MCX competitor PayPal.

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Daniel Leibovitch