MCX Confirms Retailer Exclusivity for CurrentC Mobile Payments, but No Fines for Leaving Consortium

Much of the Apple news in recent days has centered around Apple Pay and what Tim Cook referred to on Monday as a "skirmish" in which several retailers backing a competing mobile payments initiative known as CurrentC have shut down NFC payment functionality in their stores to prevent customer use of Apple Pay, Google Wallet, and other similar services.

Numerous sources have indicated that retailers backing CurrentC are contractually prohibited from accepting alternative forms of mobile payments, and sources told The New York Times that retailers breaking those contracts would "face steep fines."

currentchowto
Merchant Customer Exchange (MCX), the consortium of retailers backing CurrentC, has now published a blog post confirming that retailers working with MCX are indeed required to back CurrentC exclusively. While the group does not directly address whether consortium members could be fined for accepting Apple Pay, it does say members may leave the group without penalty if they so choose.

MCX merchants make their own decisions about what solutions they want to bring to their customers; the choice is theirs. When merchants choose to work with MCX, they choose to do so exclusively and we’re proud of the long list of merchants who have partnered with us. Importantly, if a merchant decides to stop working with MCX, there are no fines.

While the lack of a fine for leaving the consortium means retailers such as CVS and Rite Aid could still pull out of the CurrentC effort and begin accepting Apple Pay, retailers are undoubtedly reluctant to do so as they view CurrentC has a key effort to escape from credit card swipe fees while maintaining the ability to mine customer information. Many have also already invested significant amounts of money in the CurrentC effort, money that would be lost if they stopped working with MCX.

Beyond its arrangements with retailers, MCX also addresses the features of CurrentC in its blog post, highlighting the fact that it will work with any phone, integrate coupons and loyalty cards, support multiple forms of payment including gift cards, credit cards, and checking withdrawals.

Addressing user privacy, MCX highlights CurrentC's privacy dashboard that will allow customers to control what information is shared with retailers and argues that the system's cloud-based storage of sensitive customer information offers more security than on-device storage that could be more easily compromised through hacking or theft.

MCX's CurrentC program is currently in limited testing, and is expected to launch nationwide sometime next year.

Related Roundup: Apple Pay

Top Rated Comments

Tyrannosaurs Avatar
83 months ago
"MCX highlights CurrentC's privacy dashboard that will allow customers to control what information is shared with retailers and argues that the system's cloud-based storage of sensitive customer information offers more security than on-device storage that could be more easily compromised through hacking or theft."

Yep, because no-one has ever hacked into a cloud solution and engaged in the wholesale theft of user data. It's far more efficient to hack in to one Smartphone at a time.

*shakes head*
Score: 52 Votes (Like | Disagree)
tattooedyuppie Avatar
83 months ago
Exec 1: "Should we keep this useless method or switch to the one where potentially millions of people can use it?"

Exec 2: "Yeah, let's do it the dumb way."
Score: 25 Votes (Like | Disagree)
mdelrossi Avatar
83 months ago
Let the exodus begin!
Score: 24 Votes (Like | Disagree)
Elbon Avatar
83 months ago
"retailers...view CurrentC has a key effort to escape from credit card swipe fees"

Here's the thing. I'm probably never going to use CurrentC. It sounds clunky and slow. That means that I'm going to continue to use my credit card, and these retailers are going to continue to pay the swipe fees. So from that perspective, CurrentC is basically a dead end.
Score: 21 Votes (Like | Disagree)
ipader Avatar
83 months ago
No fines or penalties, but probably no refunds on their $500,000 investment.

My "on-device storage" is more secure than their cloud.

Has anyone here participated in the private tests of CurrentC in MN or used their app? Is there any public feedback on tests from the merchants or consumers?
Score: 20 Votes (Like | Disagree)
penajmz Avatar
83 months ago
Interesting. At the end of the day, all those retailers will accept Apple Pay at some point. Probably when they realize customers won't want to use QR codes and cloud based storage of such sensitive information.
Score: 20 Votes (Like | Disagree)

Top Stories

apple transfer google photos 1

Apple Launches Service for Transferring iCloud Photos and Videos to Google Photos

Wednesday March 3, 2021 12:04 pm PST by
Apple this week introduced a new service that's designed to make it quick and easy for iCloud users to transfer their stored photos and videos to Google Photos. As outlined in an Apple support document, you can go to Apple's privacy website and sign in to see the "Transfer a copy of your data" option. If you select this and go through all the steps, Apple will transfer your iCloud photos and ...
rosetta 2

Rosetta May Be Removed From M1 Macs in Some Regions on macOS 11.3

Tuesday March 2, 2021 5:20 pm PST by
Installing the upcoming macOS 11.3 software update on an M1 Mac may result in Rosetta 2 being removed in one or more regions around the world. In the third beta of macOS 11.3 seeded to developers for testing today, MacRumors contributor Steve Moser uncovered new strings in the beta's code indicating that "Rosetta will be removed upon installing this update." Another new string reads "Rosetta ...
Screen Shot 2021 03 03 at 11

MagSafe Charging Port for iPhone Appears in Apple Patent

Wednesday March 3, 2021 1:30 am PST by
In a newly granted patent, Apple envisions a type of connectivity port using an iteration of its magnetic MagSafe charger to charge an iPhone, potentially paving the way for a future without Lightning. Submitted to the United States Patent and Trademark Office on Tuesday (via Patently Apple), the patent outlines a three-pinned MagSafe charger, similar to the ones found in older MacBook...
Oled iPads and MackBook Pro

OLED 10.9-Inch iPad Rumored for Early 2022, 12.9-Inch iPad Pro and 16-Inch MacBook Pro Could Follow

Thursday March 4, 2021 8:37 pm PST by
Earlier today, DigiTimes shared a preview of an upcoming report claiming that Apple is working on both iPad and Mac notebook models with OLED displays that could launch starting in 2022. The full report from DigiTimes is now available, and it includes several new alleged details about Apple's plans. According to the report, the first of these devices to adopt an OLED display is likely to be...
OLED iPad Pro and MacBook Pro

iPad and MacBook Models With OLED Displays Rumored to Launch in 2022

Thursday March 4, 2021 8:19 am PST by
Apple plans to release new iPad and MacBook models with OLED displays in 2022, according to industry sources cited by Taiwanese supply chain publication DigiTimes. The information was shared in the site's paywalled "Before Going to Press" section, so there are no further details yet, but the full report should be released by tomorrow. Apple has gradually increased its adoption of OLED...
iPad mini pro feature

Sketchy Rumor Claims 'iPad Mini Pro' Launching in Second Half of 2021

Wednesday March 3, 2021 3:04 am PST by
Apple is expected to launch a sixth-generation iPad mini in the first half of 2021, possibly as soon as this March, based on long-standing rumors. However, a new rumor out of Asia that has gained traction in the last 24 hours suggests an "iPad mini Pro" will arrive in the second half of this year. According to a post on Korean blog Naver, whose rumor track record is unknown, the device...
maxresdefault

What's on Your iPhone Home Screen?

Thursday March 4, 2021 10:31 am PST by
Over on our YouTube channel, MacRumors videographer Dan has a new video up where he shares his Home Screen, wallpaper, and all of his current favorite widgets. Subscribe to the MacRumors YouTube channel for more videos. Check out Dan's video to see his setup, and then comment below and show us your own Home Screens. It's always fun to see other peoples' Home Screens, and with widgets and...
apple pencil 3 leak

New Apple Pencil Allegedly Leaks With Glossy Finish and Redesigned Tip

Wednesday March 3, 2021 6:17 am PST by
Images supposedly depicting a third-generation Apple Pencil have been shared on Twitter by the leaker known as "Mr. White." The purported new Apple Pencil appears to share a very similar design to the current, second-generation Apple Pencil, which is shorter than the previous version and charges inductively on the side of an iPad. The updated Apple Pencil appears to have a glossy...
apple watch ecg wrist

Apple Watch ECG Feature Gets Approved in Australia

Wednesday March 3, 2021 2:07 am PST by
The Australian government has approved ECG functionality on the Apple Watch, giving Apple the all-clear to launch the feature for Apple Watch users in the country, according to a regulatory document first spotted by The 8-Bit. Earlier last month, the Apple Watch's irregular heart rhythm notification received approval in Australia, although ECG did not. Irregular heart rhythm is a feature...
PIA23764 RoverNamePlateonMars web

NASA Mars Perseverance Rover Uses Same PowerPC Chipset Found in 1998 G3 iMac

Tuesday March 2, 2021 3:21 am PST by
NASA's Perseverance rover, which recently made history landing on the surface of Mars, is powered by the same processor used in an iMac more than 23 years old. Image Credit: NASA As reported by NewScientist (via Gizmodo), the rover includes the PowerPC 750 processor, the same chip used in the G3 iMac in 1998. The main chipset is the same; however, there are differences between the...