MCX Says Merchants Doing What's Best for Customers, Being Attacked for 'Challenging the Status Quo'

currentc_phoneFollowing the publication of a blog post earlier today outlining some details of its upcoming CurrentC mobile payments solution and disclosure of a hack resulting in unauthorized access to users' email addresses, Merchant Customer Exchange (MCX) held a conference call with members of the press to further address questions and concerns.

During the call, MCX CEO Dekkers Davidson and COO Scott Rankin clarified that MCX merchants who choose to accept Apple Pay are not subject to fines. As stated in the blog post earlier today, merchants are also free to leave the consortium entirely at any time without penalty beyond forfeiting the time and money already invested in the effort.

As a result, MCX certainly appears to be placing the blame for its member retailers' refusal to accept Apple Pay on the merchants themselves. Asked whether Apple Pay and MCX's CurrentC solution should be able to exist side-by-side, the executives noted that believe they will in the future and that it will take two or three major players in mobile payments to allow the entire market to thrive.

But pressed as to why some retailers such as CVS and Rite Aid have shut down NFC entirely rather than allow unofficial Apple Pay payments in their stores, Davidson argued that merchants know their customers best and are making the choices they believe are right for their customers. He said the merchants believe customers want more than just mobile payments, and CurrentC's integration of payments with loyalty cards and coupons will in his opinion prove to be the best solution.

On the topic of the hack that has resulted in compromised email addresses, Davidson noted that attacks on their systems were expected and have been heavy over the past week but that the email breach did not affect the app or the actual CurrentC systems. As a result, the issue has not shaken MCX's confidence that the cloud is the best place to store personal information for CurrentC users. Asked why MCX has been the target of such attacks over the past week, Davidson speculated that with MCX "challenging the status quo" of large, entrenched payment systems, there are bound to be attacks.

Addressing privacy issues, Davidson and Rankin also highlighted the privacy dashboard that will be available to all CurrentC users. The dashboard will allow users to tailor their level of engagement with retailers, ranging from complete anonymity to identifiable relationships that will allow for customized offers, coupons, and other benefits.

The executives also touted CurrentC's technology and payment platform agnosticism, noting that while the system has been initially built out using QR codes for maximum compatibility, the system can easily pivot to NFC or other technologies as appropriate. Responding to questions of security with QR codes, the executives pointed to Starbucks, which processes 5-6 million transactions per week using the technology.

On the payment front, CurrentC will support a variety of methods including store cards, gift cards, debit cards, and checking account withdrawals, with two credit card companies even on board at this stage. Over time, MCX expects all cards to be welcomed, even with the interchange fees charged for credit card usage.

CurrentC is currently in limited testing with an undisclosed number of partners in undisclosed locations around the country, and a full nationwide launch is planned for early next year.

Update October 30 7:26 AM: Following continued unclear answers and dodging from MCX executives, an MCX spokesperson has confirmed to Business Insider has confirmed that consortium members who choose to accept Apple Pay must indeed leave the CurrentC group. During yesterday's conference call, the executives refused to share whether any retailers have left the group or are considering doing so.

Popular Stories

iPhone SE 4 Thumb 1

'New' iPhone SE Product Listing Appears on French Website

Wednesday February 12, 2025 6:49 am PST by
As the wait continues for Apple's long-rumored, fourth-generation iPhone SE, French electronics retailer Boulanger has prematurely published a product listing for a "new" model of the iPhone SE. The placeholder page says the device is "coming soon," but it offers no further information, and the price shown is obviously not real. The listing was spotted by a reader of the French technology...
apple launch feb 2025

Tim Cook Teases an 'Apple Launch' Next Wednesday

Thursday February 13, 2025 8:07 am PST by
In a social media post today, Apple CEO Tim Cook teased an upcoming "launch" of some kind scheduled for Wednesday, February 19. "Get ready to meet the newest member of the family," he said, with an #AppleLaunch hashtag. The post includes a short video with an animated Apple logo inside a circle. Cook did not provide an exact time for the launch, or share any other specific details, so...
oppo find n5 fingers

World's Thinnest Foldable Phone Launches Next Week

Monday February 10, 2025 3:05 am PST by
Oppo has confirmed a February 20 global launch for its Find N5, which the company claims is the world's thinnest device in the foldable phone category. The phone is expected to be re-branded as the OnePlus Open 2 in the US. The Chinese vendor has been teasing the device in the last few weeks, touting its waterproofing and nearly invisible display crease, and highlighting its thinness by compa...
m2 macbook air blue

M4 MacBook Air Release Continues to Appear Imminent

Monday February 10, 2025 10:56 am PST by
There continue to be signs of a new MacBook Air with an M4 chip, indicating that we could see the machine launch in the not too distant future. A private account on X today shared the identifiers that the MacBook Air will use, and those identifiers correspond to the M4 chip. According to the source, both the 13-inch MacBook Air and the 15-inch MacBook Air will be equipped with Apple's...
watchOS 11 Thumb 2 1

Apple Releases watchOS 11.3.1

Monday February 10, 2025 10:04 am PST by
Apple today released watchOS 11.3.1, a minor update to the operating system that runs on the Apple Watch. watchOS 11.3.1 is compatible with the Apple Watch Series 6 and later, all Apple Watch Ultra models, and the Apple Watch SE 2. watchOS 11.3.1 can be downloaded by opening up the Apple Watch app and going to General > Software Update. To install the new software, the Apple Watch needs to...
sequoia

Apple Releases macOS Sequoia 15.3.1

Monday February 10, 2025 10:11 am PST by
Apple today released macOS Sequoia 15.3.1, a minor update to the macOS Sequoia operating system that came out last September. macOS 15.3.1 comes a few weeks after the launch of macOS Sequoia 15.3. Mac users can download the ‌‌‌macOS Sequoia‌‌‌ update through the Software Update section of System Settings. Apple has also released macOS 13.7.4 and macOS 14.7.4 for those who are...
Apple Ad on X

Apple Resumes Advertising on X

Wednesday February 12, 2025 2:18 pm PST by
Apple this month started advertising on X for the first time in more than a year. The company had stopped advertising on the social media platform in November 2023 following controversial remarks made by its owner Elon Musk. For example, the @Apple account is running an ad promoting Safari's privacy features. The ad was spotted by MacRumors contributor Aaron Perris. The @AppleTV account has a...
M4 mini Glowing Blue

Apple Begins Selling Refurbished M4 Macs

Wednesday February 12, 2025 11:35 am PST by
Apple today added MacBook Pro and Mac mini models with M4 series chips to its certified refurbished store in the United States, Canada, the United Kingdom, and Ireland for the first time since the computers were introduced in October 2024. Some refurbished MacBook Pro models with M4 chips are also available in Belgium, Germany, the Netherlands, Spain, and select other European countries. ...
pixelmator pro apple acquisition complete

Apple Completes Pixelmator Acquisition

Tuesday February 11, 2025 9:34 am PST by
Pixelmator last year announced that it was being acquired by Apple, and today the company confirmed that the acquisition has been completed after Apple received regulatory approval. The Pixelmator for iOS, Pixelmator Pro, and Photomator apps were today updated with a new splash screen announcing the deal. Pixelmator is a well-known image and photo editing app that competes with Photoshop and ...

Top Rated Comments

farewelwilliams Avatar
134 months ago
in the small 0.00000001% chance that MCX does become successful, I vow to never, ever use CurrentC, even if it means I'll have to pay via dollar bills, just to screw with them.
Score: 81 Votes (Like | Disagree)
AdonisSMU Avatar
134 months ago
Really, Status Quo? QR Codes were the status quo like 10 years ago. We've moved on since then. This is so MCX can make consumer data trafficking a lot easier.

MCX is the gift that keeps on giving.
Score: 81 Votes (Like | Disagree)
burnside Avatar
134 months ago
Davidson argued that merchants know their customers best and are making the choices they believe are right for their customers.

Such as handing over your social security number.
Score: 67 Votes (Like | Disagree)
Codyak Avatar
134 months ago
The more I read about this whole situation and product, the more I'm convinced it's all a continuous series by the Onion.
Score: 59 Votes (Like | Disagree)
Dimwhit Avatar
134 months ago
But pressed as to why some retailers such as CVS and Rite Aid have shut down NFC entirely rather than allow unofficial Apple Pay payments in their stores, Davidson argued that merchants know their customers best and are making the choices they believe are right for their customers. He said the merchants believe customers want more than just mobile payments, and CurrentC's integration of payments with loyalty cards and coupons will in his opinion prove to be the best solution.

That paragraph makes NO sense. If CurrentC was already in place, maybe…but how does denying Google Wallet and ApplePay, with no alternative, showing they are making choices that are right for their customers???
Score: 55 Votes (Like | Disagree)
Swift Avatar
134 months ago
Notice one thing

Every single statement here is a lie. Oh, sorry, PR.

Using Apple Pay, effectively, just means using NFC, which is a standard.

MCX is clunky and abusive of people's privacy.

"We're the rebels against the status quo?" HAHAHAHAHA.
Score: 52 Votes (Like | Disagree)