Apple Pay Rival CurrentC Launching in Limited Trial Next Month as Exclusivity Expires

currentc_phoneThe Merchant Customer Exchange's contactless payment system, CurrentC, is gearing up for a limited trial run next month in the stores of the companies that began backing MCX in 2012, including Walmart, Target, and Best Buy, according to unnamed sources speaking with Bloomberg.

The service is backed by a large roster of retailers, from Sears to Wendy's, who support the platform as a way to avoid losing integral shopping data to an increasingly competitive market thanks to the likes of Apple and Google.

CurrentC is different from Apple Pay however, using barcodes and RFID scanners in place of NFC terminals Apple took advantage of with Apple Pay. As Bloomberg points out, it also has a major hurdle regarding the signing of deals with major credit card companies, something it has yet to do.

While MCX is getting closer to releasing its app, there are plenty of hurdles. It hasn’t signed deals with major credit-card companies like Visa to use bank-issued card accounts within the app. That means a shopper wouldn’t be able to use, say, a Visa debit card from JPMorgan Chase & Co. This can be done with competing products like Apple Pay. Instead, users of MCX’s app will be limited to private-label store cards, like Target’s REDcard, or they’ll have to give MCX their checking-account details.

Also worrisome for MCX is the three-year exclusivity contract each retailer signed when the company began talks of the CurrentC system back in 2012. Those contracts -- which prohibited partnering with other mobile payment services -- begin to end next month, alongside CurrentC's soft launch in August. The company has already felt the weight of this, as Best Buy announced back in April it would begin supporting Apple Pay within its mobile app, with in-store support gearing up for later in 2015.

Not long after, MCX's CEO at the time, Dekkers Davidson, left the company, with a spokeswoman telling press that Davidson's exit had nothing to do with the announcement made by Best Buy days before. Payments security analyst Julie Conroy spoke on the subject to Bloomberg, reiterating on the public's trust issues with the company following a hack last year and stating simply, “I’m increasingly skeptical of their chance to really make a dent.”

Related Roundup: Apple Pay
Tags: MCX, CurrentC

Top Rated Comments

nagromme Avatar
79 months ago
I could jump through a million hoops, more awkward than swiping a card, to give a few specific retailers direct, insecure access to my bank account, putting all of the fraud liability on myself while they build and sell a profile on my life.

Or I could use fast, simple, secure, private, widely-supported Apple Pay that pays out of my existing, fraud-protected credit cards.

I'll have to sleep on it...
Score: 46 Votes (Like | Disagree)
bmunge Avatar
79 months ago
How many millions were wasted on this DOA effort?
Score: 36 Votes (Like | Disagree)
sampaul Avatar
79 months ago
This thing still exists??? LOL
Score: 23 Votes (Like | Disagree)
mlts22 Avatar
79 months ago
I don't want it. I remember reading they were hacked last October.

The big problem is no credit cards. Pretty much just ACH debits. This means, if fraud happens, you are out that cash, and you can't contest it, as you can with credit cards. I'm pretty sure this is why the merchants like it -- no fear of Visa/MC and credit card dispute paperwork.

Definitely not a service I'd trust around my wallet.
Score: 22 Votes (Like | Disagree)
Andres Cantu Avatar
79 months ago
Oh CurrentC, in development since 2012, in panic since 2014.
Score: 16 Votes (Like | Disagree)
macnewbie91 Avatar
79 months ago
Apply Pay is nice and all ... but it requires an iPhone. There are still millions of people that use other types of phones ... so options are a good thing.
There's also these two other payment services called Android Pay, and also Samsung Pay, which use NFC payment solutions just like how Apple Pay works. I cannot believe I have to tell you this.
Score: 14 Votes (Like | Disagree)

Top Stories

REC ASA CODE2016 20160601 205816 2745

Elon Musk Reportedly Demanded to Become Apple CEO as Part of Potential Tesla Acquisition [Update: Musk Denies]

Friday July 30, 2021 9:04 am PDT by
Tesla CEO Elon Musk reportedly once demanded that he be made Apple CEO in a brief discussion of a potential acquisition with Apple's current CEO, Tim Cook. The claim comes in a new book titled "Power Play: Tesla, Elon Musk and the Bet of the Century," as reviewed by The Los Angeles Times. According to the book, during a 2016 phone call between Musk and Cook that touched on the possibility of ...
General Apps Messages

Android iMessage Competitor Puts Pressure on Apple

Friday July 30, 2021 3:15 am PDT by
Google and the three major U.S. carriers, including Verizon, AT&T, and T-Mobile, will all support a new communications protocol on Android smartphones starting in 2022, a move that puts pressure on Apple to adopt a new cross-platform messaging standard and may present a challenge to iMessage. Verizon recently announced that it is planning to adopt Messages by Google as its default messaging...
Apple watch series 5 new case material made of titanium 091019

Titanium Apple Watch Series 6 Models Currently Widely Unavailable

Sunday August 1, 2021 6:21 am PDT by
Models of the Apple Watch Series 6 with titanium cases part of the "Apple Watch Edition" collection is currently widely unavailable for pick-up in several of Apple's retail stores in the United States and is unavailable entirely for delivery in major markets. Noted by Bloomberg's Mark Gurman in the latest edition of his "Power On" newsletter, titanium models of the Apple Watch Series 6,...
ifixit iphone12 mini

Apple to Make Space for Larger Batteries in iPhones, iPads, and MacBooks By Adopting Slimmer Peripheral Chips

Monday August 2, 2021 2:12 am PDT by
For future iPhones, iPads, and MacBooks, Apple plans to use smaller internal components in an effort to increase the size of the device's battery, according to DigiTimes. Image Credit: iFixit Specifically, Apple plans to "significantly increase the adoption" of IPDs or integrated passive devices for the peripheral chips in its products. These news chips will be slimmer in size and allow for...
Flat 2021 MacBook Pro Mockup Feature

Unreleased Apple Macs and Apple Watches Listed in Eurasian Database Ahead of Fall Product Launches

Monday August 2, 2021 9:34 am PDT by
Apple is preparing for a slew of fall product launches according to new filings that showed up today in the Eurasian Economic Commission database. There are listings for new Mac and Apple Watch models, all of which have previously unknown model identifiers that indicate that they're upcoming devices. There are six new Apple Watch identifiers, including A2473, A2474, A2475, A2476, A2477, and...
a15 chip

iPhone 13 and Redesigned MacBook Pro Chip Production Hit With Gas Contamination

Friday July 30, 2021 5:44 am PDT by
The most important TSMC factory that manufactures Apple's chips destined for next-generation iPhone and Mac models has been hit by a gas contamination, according to Nikkei Asia. The factory, known as "Fab 18," is TSMC's most advanced chipmaking facility. TSMC is Apple's sole chip supplier, making all of the processors used in every Apple device with a custom silicon chip. Industry...
iPhone 13 Wi Fi 6E feature update

Wi-Fi 6E Explained: What It Could Mean for iPhone 13 and Beyond

Monday August 2, 2021 8:00 am PDT by
The iPhone 13 is widely expected to come with Wi-Fi 6E capabilities, and while it may seem rather nuanced to the average consumer, with only improved speeds and being "up to date" in the realm of Wi-Fi technology, it's actually a fairly significant improvement, laying the groundwork for much of what we know the future holds. To truly understand Wi-Fi 6E, MacRumors sat down for an exclusive...
youtube premium lite

YouTube Tests Cheaper 'Premium Lite' Subscription for Ad-Free Viewing

Monday August 2, 2021 3:22 am PDT by
YouTube is piloting a new cheaper subscription tier in Europe called "Premium Lite," which offers ad-free viewing minus YouTube Premium's other features. First spotted by a user on ResetEra and subsequently confirmed by Google, the "Lite" plan means users who aren't interested in offline downloads or background playback can still enjoy YouTube videos on web and mobile app without being...
iPhone 13 Always On Feature

iPhone 13 to Bring Over a Major Feature From the Apple Watch

Wednesday July 28, 2021 2:21 am PDT by
Apple's upcoming iPhone 13 lineup will feature an always-on display akin to the Apple Watch Series 5 and Series 6, according to recent reports. In his weekly Power On newsletter, Bloomberg journalist Mark Gurman, who often reveals accurate insights into Apple's plans, said that the iPhone 13 may feature an Apple Watch-inspired always-on mode. The Apple Watch Series 5 and Apple Watch...
COVID19 Digital Wallet Apple Wallet

Australian Government Now Offering COVID-19 Digital Vaccination Certificates for Apple Wallet

Monday August 2, 2021 12:04 am PDT by
The Australian government has introduced support for adding COVID-19 vaccination digital certificates to Apple Wallet via the Express Plus Medicare app on iOS. Image credit: Tap Down Under As spotted by Tap Down Under, users who have received two doses of either the AstraZeneca or Pfizer vaccine now have access to the digital certificate through their Medicare online account or via the Medica...