The debut of Walmart Pay followed by a few weeks the public testing of CurrentC
and appeared to reflect Walmart's determination not to miss the opportunity to get into the mobile payment game because the MCX option was not ready for prime time.
was relatively unknown in the mobile payments space initially, it was thrust into the spotlight in 2014 when its partner merchants (http://www.
Their announcement aimed to support CurrentC
in place of Apple Pay.
The two drugstore chains have joined retail giants Walmart and Target and others to field a rival app called CurrentC
, which is more like a coupon and rewards app that gives retailers information about who its users are and what they buy.
Apple still requires retailers to pay swipe fees, but others like CurrentC
have no fees and can be used with all brands of mobile phones.
Visa Checkout and MasterPass have seen limited traction among the survey participants so far, but as many as 31% of respondents consider participating in CurrentC
, a merchant-owned mobile payment system.
Rite Aid also participates in the Merchant Customer Exchange (MCX) network, which uses the CurrentC
mobile payment platform.
Riordan said that at the same time, the financial industry is watching how mobile payment systems such as Apple Pay and CurrentC
will affect card use in the future with their added security features.
The payment system in focus is the CurrentC
combines users' payment and loyalty rewards accounts, allowing them to pay and save from virtually any smartphone.
falls short because it doesn't operate on Near Field Communication, opting instead to use QR codes.
of Bentonville and about 50 other retailers: CurrentC
, created by a joint venture called MCX, the Merchant Customer Exchange of Boston.