MCX: CurrentC is 'challenging status quo,' merchants doing what's best for consumers

MCX: CurrentC is 'challenging status quo,' merchants doing what's best for consumers

A lot of talk so far today surrounds CurrentC, an upcoming mobile payments system from the Merchant Consumer Exchange (MCX) group. The service, which is currently being tested, will be embraced by members of MCX including retailers like Walmart, Best Buy, Target and Gap (among many others). Due to widespread reporting of MCX-affilaited retailers banning...

MCX: CurrentC is 'challenging status quo,' merchants doing what's best for consumers

A lot of talk so far today surrounds CurrentC, an upcoming mobile payments system from the Merchant Consumer Exchange (MCX) group. The service, which is currently being tested, will be embraced by members of MCX including retailers like Walmart, Best Buy, Target and Gap (among many others). Due to widespread reporting of MCX-affilaited retailers banning the use of Apple Pay — and other NFC-based payment services like Google Wallet and SoftCard — in stores, incurring fines for allowing other mobile payment methods, and the subsequent news that CurrentC has already been hacked, MCX’s CEO held a conference call with members of the press to address some of the concerns around the consortium and the CurrentC service.

During the call, MCX’s CEO Dekkers Davidson and COO Scott Rankin asserted that retailers who sign up to use the service are not subjected to fines should they choose to accept Apple Pay. Merchants are free to leave the consortium at any time without penalty, despite reports to the contrary.

Source told me today verbatim: “There are penalties involved in being in breach of the contract.”

— ?_? () October 29, 2014

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Source : www.todaysiphone.com

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