CurrentC


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Related to CurrentC: Apple Pay, Softcard

CurrentC

A mobile payment system from Merchant Customer Exchange (MCX), a consortium of retail vendors founded in 2012 that includes Best Buy, CVS, Lowes, Target and Walmart. Rather than employ the NFC transmission method used in Apple Pay and Android Pay, a CurrentC transaction is accomplished when the user scans a QR code with the CurrentC smartphone app at the MCX terminal. A controversial stipulation in the MCX contract for merchants states that no other mobile payment system can be used for several months until the CurrentC system is fully working. See mobile payments service.
References in periodicals archive ?
The appeal of CurrentC to merchants was what Carr called a defensive move to interchange, which would allow them to process more transactions for less interchange cost.
the stores that are part of MCX circle that accept CurrentC and the rest that opted to go with other payment options.
php) GSM Arena points out, the CurrentC will be launched with a dedicated app for both Android and iOS.
Last week, MCX acknowledged a breach in which "unauthorized third parties" obtained email addresses of some CurrentC pilot program participants and people who had showed interest in the app.
The difference between Apple Pay and the CurrentC system is vast:
Paydiant is also the technology tapped by CurrentC, the mobile payments tool from the Wal-Mart led Merchant Customer Exchange.
As major players expand their reach within the world of mobile payments, including non-traditional entrants such as Apple, PayPal and CurrentC, a system backed by a conglomerate of major retailers, the potential for a large e-gifting market via person-to-person (P2P) transfers will become increasingly clear.
The competing technology called CurrentC to be available next year was developed by the Merchant Customer Exchange group.
MCX even disclosed last week that an early trial of CurrentC has already exposed personal information to unauthorized third parties.
In order to satisfy these two conditions, this group is in the process of developing a payment system of their own called CurrentC, with the help of Merchant Customer Exchange ('MCX').
Consumers can gain access to the entire CurrentC network by using the CurrentC app, as well as through merchants' mobile applications that leverage CurrentC functionality.
The CurrentC Network was built by leading merchants to simplify, enhance and secure their customers' shopping experience.